Saudi Arabia’s leading lubricants and automotive services company, Petromin Corporation, stated that it is planning on investing $28m in the Egyptian market, to expand its network of fuel stations and service centers and to construct a cutting-edge lubricants blending plant. The company is forecast to create 1,000 new jobs in Egypt by 2020, Arab Finance reported.
According to Zawya, the company aspires to unconditionally grow in Egypt. In the last 18 months Petromin has added 18 new fuel stations to its network; such growth provided it with additional 150m liters of fuel. By 2020, it intends to have a network of 100 gas stations and serve over 1.5m customers every year. Furthermore, the company currently operates four service centers that provide fast and reliable vehicle servicing and amenities to Egyptian customers.
Furthermore, Petromin opened its new headquarters in Maadi, Cairo and launched an opening ceremony that was hosted by Petromin Egypt General Manager, Hesham Bekeat. He was quoted by Arab Finance as saying: “We have ambitious plans for the next four years and our goal line is to invest EGP 250m and create 1,000 new jobs by 2020.”