��������

DUBAI: Abu Dhabi’s ADNOC Distribution announced on Thursday that it plans to acquire 15 service stations in the eastern region of ��������.

The deal is valued at 36.7 million dirhams ($10 million) and is subject to regulatory approval, WAM, the UAE state news agency, said.

“Expanding our presence in �������� is an important milestone for our company and part of our profitable growth strategy. We see this expansion as a natural progression and look forward to significantly increasing our presence in the coming years. This is the first announcement of many we intend to make, with Saudi being a key strategic market for us,” Ahmed Al-Shamsi, acting CEO of ADNOC Distribution, was quoted as saying.

ADNOC Distribution opened its first service station in �������� in December 2018, on the Riyadh-Dammam highway. It was followed shortly after by another in the city of Hofuf.

“�������� is the largest market in the GCC and there is huge potential for experienced fuel operators like us to consolidate the market and capture further growth,” Al-Shamsi added. “We are currently in discussions on a range of opportunities to further build on our network in the country.”