Egypt's Qalaa Holdings to establish 300 gas stations

The company will establish gas stations within three years

  
Image used for illustrative purpose. Pumping gasoline fuel in car at gas station

Image used for illustrative purpose. Pumping gasoline fuel in car at gas station

Getty Images/ Mongkol Chuewong
 

Egypt -  Qalaa Holdings will establish 300 gas stations within three years, the company’s Chairman Ahmed Heikal told Alborsaa News website.

The conversion of transport vehicles from gasoline to gas will save up to 20% of freight cost, Heikal said, noting that the government encourages the conversion.

Qalaa Holdings achieved a net profit of 26.538 billion in the first nine months of 2020.

In September, President Abdel Fattah el Sisi inaugurated the petrochemical complex of Qalaa's subsidiary Egyptian Refining Company (ERC) in Mostorod, Al Qalyubia Governorate.

Qalaa Holdings, formerly Citadel Capital, is an Egypt-based company engaged in private equity investment activities.

The company manages an investment portfolio that consists of 19 opportunity-specific funds and spans 14 industrial sectors such as energy, cement manufacturing, solid waste management, real estate, mining, agricultural, glass manufacturing, transportation, and metallurgy.

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