Saudi Petromin Mulls $28mn Investment in Egyptian Auto Services Market `

Posted By: Hamid Moarefon: Tuesday, June 14, 2016In: Parts

Petromin Corp., Saudi’s premier lubricants and automotive services company in Africa and Middle East, has recently announced its plan to invest 250 million Egyptian pounds (US$28 million) in the Egyptian market within the coming period.

According to the company, the new investment is designed to expand its oil lubricants and car servicing network, anticipating those investments to create 1,000 new job opportunities in Egypt by 2020. It succeeded to add 18 new oil lubricants during the last 18 months through which it supplied more than 150 million liters of fuel.

Petromin targets to expand its network to include 100 stations by 2020 to service for over 1.5 clients yearly.

Hamid Moaref

Hamid Moaref has always been fascinated by cars and the automotive industry. His family has a longstanding association with the industry and has been in the tire business for the past 35 years. Raised in Dubai, Hamid attended Capilano University in Vancouver where he graduated with a BBA in marketing before attending an intensive course in magazine publishing in 2005. He has been the publisher and chief editor of Tires & Parts magazine for the past ten years.