(Ecofin Agency) - Petromin Corporation has announced that it intends to invest $28 million in the Egyptian market, to increase its network of fuel stations and service centers as well as build a pioneering lubricants blending plant.The Saudi Arabia’s leading lubricants and automotive services company, is estimating to establish 1,000 new jobs in Egypt by 2020.

In the past one year and half, Petromin has added 18 new fuel stations to its network providing the company with a further 150 m liters of fuel.By 2020, the company aims to have a network of 100 gas stations and attend to more than 1.5m customers annually. In addition, Petromin presently operates four service centers that deliver fast and reliable vehicle servicing and other amenities to Egyptian customers.

“We have ambitious plans for the next four years and our goal line is to invest EGP 250m and create 1,000 new jobs by 2020,” Hesham Bekeat, Petromin’s Egypt General Manager, said during the opening ceremony of its new headquarters in Maadi, Cairo, Egypt oil and gas portal reports.

Anita Fatunji