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PETROMIN TO INVEST 250M POUNDS IN EGYPTCREATING 1000 JOBS BY 2020
November 8, 2016
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New headquarters inaugurated byMohammed Othmanthe Secretary ofMinistry of Petroleum representing HE Eng. Tarek El-Molla Minister of Petroleum and Mineral Resources, and HE Amr Al-Dabbagh Chairman and CEO of Al-Dabbagh Group
Petromin Corporation opened its new headquarters in Maadi, Cairo as the company continues its ambitious growth plans in the country.Petromin revealed it will commit 250 million Egyptian pounds to expand its network of fuel stations, Petromin Express service centresand a cutting-edge lubricants blending plant creating 1000 new jobs in the country by 2020.

Petromin’s new office was inaugurated byMohammed Othman, the Secretary of Ministry of Petroleum in Egyptrepresenting HE Eng. Tarek El-Molla, Minister of Petroleum and Mineral Resources; and HE Amr Al-Dabbagh, Chairman and CEO of Al-Dabbagh Group, Petromin’s parent company; and Samir Nawar, CEO of Petromin Corporation.The opening ceremony was hosted by Hesham Bekeat, Petromin Egypt General Manager with several distinguished guests in attendance including the leadership of Petromin’s key stakeholders in Egypt.

The inauguration of Petromin’s new office marks a period of rapid growth for Petromin in Egypt. The company has added 18 new fuel stations to its network in the last 18 months (one per month)providing an additional 150 million liters of fuel. Petromin plans to expand its gas station network to include up to 100 stations by 2020 servicing over 1.5 million customers each year. In addition the company now has four Petromin Express service centres providing Egyptian customers fast and reliable servicing for their vehicles. Petromin will also look for strategic acquisitions in Egypt to support its growth plans.

Commenting on the new office Hesham Bekeat, Petromin Egypt General Manager said: “The inauguration of our new headquarters is a significant milestone on Petromin’s path to growth in Egypt. We have ambitious plans for the next four years and our goal line is to invest 250million pounds and create 1000 new jobs by 2020.

“Petromin is the only automotive services company to offer a full range of lubricantproducts and automotive services to customers across the Middle East, Africa and Asia. Through the company’s commitment to invest in innovation, we are continually developing and improving Petromin’s range of automotive products and services. This has created a loyal and growing fan base of customers in Egypt and we are determined to build on this and make Petromin the number-one market leader in Egypt.”

Petromin Egypt was founded in 1992 to work in the marketing of petroleum products in addition to the production and marketing of oils and greases as a branch of Petromin Saudi Arabia. The company currently hires more than 90 full time and contracted employees.Petromin Egypt has developed relationships with major players in the Egyptian market since it started operations.Petromin Egypt is the only company providing direct sales to oil changing and major spare-parts workshops without dealers or agents. The company has seven branches spread throughout the country from Alexandria in the north to Suhaj in Upper Egypt.