Saudi Petromin to pump $666m into petrol, service stations

Saudi Arabia’s state-owned Petromin oil lubricants producer is planning to invest SR2.5 billion ($666 million) to construct 200 new petrol stations and 600 road service centres, its CEO said in remarks published on Tuesday.

Samir Nawar said the project is part of plans by the largest Arab economy to expand road services and upgrade petrol stations, adding that the new stations would cost an average SR12.5 million ($3.3 million) each.

He told the Saudi Arabic language daily ‘Al Youm’ that the project comes after Petromin won a government contract to manage petrol and services stations on the Gulf kingdom’s motorways following competition with other bidders.

“The new petrol stations we intend to build will have global standards as they will be equipped with all necessary services and facilities…they will not be like the traditional petrol stations in the Gulf countries,” he said.

“Our plan now is to construct around 200 petrol stations and 600 services centres on various motorways in the Kingdom by 2020 at a cost of SR2.5 billion,” he added.

‘Al Youm’ said two other companies had also won three-year contracts to manage petrol and service stations in Saudi Arabia, including Dubai-based Emirates National Oil Company (Enoc) and the Saudi Automotive Services Company in Riyadh.
 

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