Woqod to invest $174mn in fuel retailing expansion in Qatar
Qatar’s leading fuel retailer Woqod will invest around $174 million (QR634mn) in expansion projects around the country.
In a meeting with shareholders, Woqod chairman Ahmad Saif al-Sulaiti discussed the “ambitious plan” they have to increase its market share for the distribution and transportation of petroleum products, natural gas, bitumen and ship bunker fuel, reports the Gulf Times.
“We have almost 30 petrol stations that we are currently building and those are not just plans but signed contracts – a commitment between Woqod and a third party, so roughly speaking we’re talking about QR634mn that is going to be spent in 2018,” said al-Sulaiti.
With the addition of 30 new sites, Woqod will be on schedule to reach its goal of 120 fuel stations by 2020.
A company report showed that sales of petroleum products had jumped by 6% in 2017.
