The Egyptian Ministry of Petroleum said in a statement on Saturday that the new station represents the first investment of the Emirati company in Egypt in the field of marketing and distributing petroleum products in the local market.
She added that the step comes during its new partnership with the French marketing company Total Energies, under which the leading Emirati company began pumping new investments into Egypt to successively operate stations bearing its brand during the coming period and launch various activities and operations in the field of marketing and fuel distribution.
Engineer Tarek El Molla, Minister of Petroleum and Mineral Resources, stressed in his speech the importance of the entry of a large company and an important brand, such as the Emirati company ADNOC, to invest in the Egyptian market.
Al-Mulla added that the large UAE investments in the Egyptian market are a reflection of the extended relations and the strength of the ties between the two countries.
The minister pointed out that the entry of an important partner the size of “ADNOC”, with its expertise, technology and global levels of quality through a partnership with another global entity such as “Total Energies”, enhances the quality levels in the field of fuel distribution and car supply and increases competition in the market between companies to provide the best A service to the Egyptian consumer who will ultimately benefit from this diversity and the presence of 14 brands competing in this field to improve services, especially since fuel services are the backbone of consumers’ daily lives and the mirror of their petroleum sector.
Al-Mulla added that the Egyptian market in the field of fuel distribution is broad and constantly growing, serving 105 million citizens and more than 10 million vehicles, in addition to the expansion of infrastructure, roads and new urban cities, which makes it full of opportunities for international marketing companies to expand and grow in Egypt.
Ambassador Maryam Al Kaabi, UAE Ambassador to Egypt, said that the entry of ADNOC into the fuel marketing activity in Egypt is a new addition to the strategic partnership and constructive cooperation between the UAE and Egypt, stressing that the number of Emirati companies operating in Egypt reaches 1,730 companies in various economic fields, and this comes The most important of which is the oil and gas sector, in order to achieve sustainable development and benefit both countries.
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