Company is also reviewing a number of potential options to grow its international operations
UAE-based fuel and convenience store retailer, ADNOC Distribution says it has opened its first service stations in Saudi Arabia.
With one located on the Riyadh-Dammam highway close to the Saudi capital and one in the Eastern Province city of Hofuf, ADNOC says the openings mark the first phase of a commitment to grow its business, not only in the UAE but also internationally following its IPO in December 2017 .
In a statement, the company said it is also, “currently reviewing a number of potential options to grow its international operations.”
The stations have undergone extensive reconstruction to bring them into line with ADNOC Distribution’s operational standards and branding guidelines, it added.
“In addition, customers should expect the same consistent high levels of service as those applied in the UAE,” said the statement.
Since the IPO, ADNOC Distribution has reported “robust financial results” for the first three quarters of 2018. The business has progressed on a number of initiatives to drive its growth strategy in the areas of fuel, non-fuel and cost efficiency, “while also remaining focused on expanding its national and regional footprint.”
“This is an important moment in our company’s history – our first step into the international arena,” said Saeed Al Rashdi, acting CEO of ADNOC Distribution. “We promised this to our investors a year ago and these openings mark the beginning of an exciting new chapter for our organization. These initial two stations are significant in that they will enable us to interact directly with Saudi customers and, where necessary, tailor our services for this important market as we continue to look at options for growth. We strongly believe that our brand and service ethic have a place within the Saudi Arabian fuel and convenience retailing sector, and hope that our entry into the Kingdom of Saudi Arabia will further strengthen the commercial and cultural ties that connect our two countries.”