Petromin Corporation, based in Jeddah, Saudi Arabia, has opened its new headquarters in Maadi, in the outskirts of Cairo. Petromin is a leading automotive services company in the Middle East and North Africa (MENA) region.
The inauguration of Petromin’s new office marks the start of rapid growth for Petromin in Egypt, which plans to expand its retail network to 100 stations by 2020.
Petromin said it will commit EGP 250 million (USD 28 million) to expand its oil retail network, Petromin Express service centres and a lubricants blending plant. Petromin will also look for strategic acquisitions in Egypt to support its growth plans.
Petromin’s new office was inaugurated by Mohammed Othman, secretary of the Ministry of Petroleum in Egypt, who represented HE Eng. Tarek El-Molla, minister of Petroleum and Mineral Resources; HE Amr Al-Dabbagh, chairman and CEO of the 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. “We have ambitious plans for the next four years and our goal line is to invest 250 million pounds and create 1,000 new jobs by 2020,” said Bekeat.
Petromin Egypt was founded in 1992 to market petroleum products. The company currently has seven branches throughout the country. In addition, the company has four Petromin Express service centres, providing Egyptian customers fast and reliable servicing for their vehicles.