Enoc announces ambitious plans to strengthen retail network by 2020.
Business Bureau, Gulf Today
Enoc Group, a wholly-owned entity of the Government of Dubai, has announced ambitious expansion plans for its retail operations in the Kingdom of Saudi Arabia (KSA).
The Group’s retail arm will increase its service station network by more than eight fold by 2030 to reach 12 4 stations to meet the growing fuel station demand in the GCC’s largest market that is home to over 33 million residents and spans 2.15 million square kilometres in size.
The new service stations will be strategically spread across different locations across the Kingdom covering east, west and central regions, with the objective of boosting the quality of infrastructure to bring last mile connectivity, especially for the rural parts of the country.
Over the next five years, ENOC plans to open 45 new service stations. From 2024 to 2028, the Group plans to further expand its retail operations across the Kingdom by opening 65 new ENOC stations. All upcoming service stations in the Kingdom will have provisions for solar pv panels to be installed on the roof of the canopy.
Saif Humaid Al Falasi, Group CEO, ENOC, said: “Our growth plans for the Saudi market come as part of the Group’s retail expansion strategy aimed at not only boosting domestic economic sentiment but also providing an impetus to our international growth plans. We strongly represent continued foreign investments into the Kingdom that rose by 110 per cent in 2018 to reflect the country’s diversification to non-oil industry trade between countries through goods and consumer products.”
“We are committed to deliver on the Saudi Vision 2030 objectives to enhance the country’s infrastructure and provide the highest quality of service standards as well as invest in new stations that offer the full breadth of retail services.