ADNOC Distribution Global Company (ADGC) on Wednesday signed a franchise agreement with Saudi-based Al Olalibi Group, pioneers in the distribution and transportation of petroleum products in Saudi Arabia.
The first phase of the 15-year franchise agreement entails operating 20 service stations across key locations in Riyadh, Makkah and Madinah under the trademark and brand name of ADNOC Distribution Global Company.
The agreement also mandates ADNOC Distribution Global Company to provide technical and engineering consultancy towards the construction, operation and management for the new service stations. ADGC will additionally offer Al Olaibi its expertise in retail, training, marketing and customer services.
The agreement was signed between Abdulla Salem Al Dhaheri, Chairman of ADNOC Distribution Global Company, and Eid Abdul Hadi Al Olalibi, General Manager, Al Olalibi Service Station Operation and Management Company.
The agreement comes within the context of promoting stronger economic cooperation between the UAE and Saudi Arabia, and stems from the strategic vision of the leadership in the two countries. More specifically, it articulates ADNOC Distribution Global Company’s strategic plan to expand its service station network and enhance its technical expertise beyond the UAE. In addition to validating the quality and excellence of ADNOC Distribution Global Company’s products and services locally and internationally, the agreement further establishes the company as a progressive entity that pioneers joint development projects with regional industry players.
Al Dhaheri said: "Saudi Arabia is one of the most significant and strategic markets in the region. We are pleased to enter the Saudi market through our association with the Al Olalibi Group. The partnership reaffirms ADNOC Distribution Global Company’s leadership role in petroleum products supplies and validates customer confidence in our products and services. This agreement also marks a positive step in our efforts to strengthen cooperation among our companies working in the area of petroleum product distribution and service station management in Saudi Arabia."
Al Olalibi said: "ADNOC Distribution Global Company holds proven market experience in the management and operation of service stations that are on par with global standards. This alliance will enhance the reputation of our high quality services across key locations in Saudi Arabia. We are keen to develop and expand this partnership in the country through endorsing international best practices in trade, service security, health and safety."
As part of its ambitious expansion strategy, ADNOC Distribution Global Company seeks to leverage its unique capabilities and expertise in operating service stations towards growing its regional and global footprint© Copyright - Saudi Gazette