Adnoc Distribution Plans Record Investment to Add Gas Stations
- Fuel retailer to more than double capital expenditure in 2020
- Company plans to expand in Dubai, Saudi Arabia and India
An attendant works at an Adnoc petrol station in Dubai.
Photographer: Tom Dulat/Getty Images
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Abu Dhabi’s government-backed fuel retailer expects to more than double capital expenditure this year as part of a push to open at least 60 new gas stations.
Abu Dhabi National Oil Co. for Distribution PJSC will spend between 1.1 billion dirhams ($300 million) and 1.5 billion dirhams to fund an “ambitious new station delivery schedule” for 2020, the company said Wednesday in an earnings statement. Capital expenditure in 2019 was 508 million dirhams.