Petromin and HPCL establish strategic alliance in energy sector
On September 19, 2023, during the G20 summit, Petromin Corporation and Hindustan Petroleum Corporation Limited (HPCL) announced a strategic partnership. This collaboration aims to strengthen ties between Saudi Arabia and India, focusing on fuel stations, EV charging infrastructure, and vehicle service centers.
Petromin’s alliance with HPCL is set to launch three major initiatives:
1. Fuel stations: Plans to set up and operate a vast network of approximately 500 fuel stations across Saudi Arabia, the Middle East, and Africa.
2. EV charging infrastructure: The partnership envisions deploying around 5,000 charging stations, primarily at HPCL retail locations. These stations will feature a mix of high-speed DC chargers and regular AC chargers.
3. Vehicle service centers:The introduction of nearly 1,000 co-branded vehicle service centers throughout India is also on the agenda.
Held in New Delhi, India, from September 9-10, 2023, the G20 summit, which saw the participation of Crown Prince HRH Mohammad Bin Salman, played a pivotal role in strengthening bilateral relations and opening doors for collaborative opportunities between Saudi Arabia and India.
Kalyana Sivagnanam, GCEO of Petromin, spoke at the India Saudi Investment summit, highlighting the advancements Electromin is making in energy and sustainability.
In closing, Petromin expressed gratitude to the Ministry of Investment Saudi Arabia and the Ministry of Commerce and Industry for their unwavering support in actualising this partnership. Both entities are eager to redefine the energy sector and foster global innovation.