ADNOC Distribution will build 13 stations in Dubai

Bbadam Abdul Samie (Abu Dhabi)

ADNOC Distribution has started the infrastructure works of 13 new factories in Dubai, in preparation for the official launch of the project before the end of the year, as part of the company's projects to achieve between 25 and 30 stations in 2019, mainly in the emirate of Dubai, 400 operating stations early next year, according to Saeed Mubarak Al Rashidi, interim CEO of the company.
Al-Rashidi said in an interview with "UnionYesterday, after announcing the financial results of the first half: "The company is in the implementation of its announced strategic plan for the period 2019 to 2023, where the total stations were operating until yesterday, 381 stations, and have seen the last months of the year the opening of five stations And work is underway to complete the rest of the target stations, on 25-30 stations during the year 2019, mainly in the emirate of Dubai.
ADNOC's market capitalization was AED 34 billion at the end of the session, placing it 55th on the FTSE list.
Al Rashidi pointed out that since the announcement of the strategy last April and the organization of the Capital Market Days in May in London and New York, the stock price on the Stock Exchange of 39; Abu Dhabi Securities Exchange (ADX) rose 35.5% to 2.71 AED. March 26th.
Al-Rashdi explained that the company had launched two service stations in the Saudi market and planned to open two to three integrated stations during the five months of the year, bringing the total number of ADNOC stations. in the Kingdom of Five, including three integrated resorts providing services, products, oases and restaurants. The company is currently evaluating the results of these stations and is considering a future expansion of the kingdom.
The company has continued to develop its other petroleum products, which are already entering the Indian market, the world's third largest vehicle lubricant market.

He pointed out that the total number of oases in ADNOC reached yesterday yesterday 262 oasis, up from 10 stores in the second quarter, the goal being to achieve 35% of profits of the non-oil sector in the years to come , including car wash, oils, oases and restaurants. Among the most profitable companies in the world in this sector and allows it to expand its activities locally and internationally.
The company expects the non-oil sector to continue to contribute to profitability through its retail renovation program, the opening of new Gian fast-food stores, and the Al-Waha cafe, which offers coffee and bakery products.
He pointed out that the company's sales of non-oil products and services had increased 45% in the first half compared to the same period last year.
Al-Rashidi explained that the company's transformation into operational efficiencies reduced the number of people in the new stations by more than 25 percent compared to the workforce previously required for the stations. The human resources development framework, taking into consideration the best service without complete reduction.
Continued implementation of the company's cost reduction program, which is expected to contribute to increased management margins, is expected to generate additional savings of $ 100 to $ 150 million by 2023. The company is targeting more $ 1 billion in 2023 and aims to stimulate growth At the highest level in terms of fuels and other fuels, accelerating the development of UAE in general.
He said the results announced for the first half of the year yesterday reinforced the company's ambition to maintain strong financial performance through superior operational performance and customer service excellence, adding that we are on track to make ADNOC Distribution a global retail fuel retailer, both locally and internationally.
And continues to move toward a global enterprise by adopting practices and initiatives that reflect an open, efficient, influential and integrated business environment in the global economy, operating within a highly efficient and effective financial system with flexibility and the capacity needed to reach new international markets and profitable investment opportunities. In line with Abu Dhabi's 2030 Economic Vision and 2030 Vision for Diversifying Sources of Sustained Economic Growth.