Saudi Aldrees plans to acquire service stations in Egypt

The step comes along with the company’s plan to expand its footprints into Egypt

  
An oil tanker is being loaded at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. Image used for illustrative purpose.

An oil tanker is being loaded at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. Image used for illustrative purpose.

REUTERS/Ahmed Jadallah
 

Egypt - The Riyadh-headquartered Aldrees Petroleum and Transport Services Company (Aldrees) has submitted a request to acquire service stations in Egypt, Arab News reported on July 25th.

The step comes along with the company’s plan to expand its footprints into Egypt.

Aldrees had not yet received a response to its acquisition query but it is planning to open 60 fuel stations in Egypt during the second half of 2021, bringing its total number of outlets to 644.

In 2020, the company owned 584 stations.

The Saudi fuel service station provider targets having a total of 1,000 stations within the next five years.

 

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