ADNOC is exploring entry into Egypt’s electric vehicle (EV) charging market and is in the process of securing the necessary licences, according to CEO Bader Al Lamki.
As part of its expansion strategy, the company plans to open its first integrated service station in New Cairo, which will be its largest in Egypt. Additionally, ADNOC Distribution is assessing opportunities to establish new fuel stations in the New Administrative Capital and the North Coast, Al Lamki stated.
Investment and Growth Plans
Al Lamki highlighted the company’s commitment to investing between $250m and $300m across various markets this year, with a goal of establishing 40 to 50 new service stations. ADNOC Distribution began manufacturing lubricants in Egypt at the end of 2024 and aims to further expand into African markets in the near future.
The company is also ramping up its EV charging network, increasing from approximately 100 charging points in the UAE last year. Over the next four years, ADNOC has allocated around $1 billion for investments in Egypt, Saudi Arabia, and the UAE, with an annual budget of $250m. This includes the establishment of 40 to 50 fuel stations across the three countries this year.
Currently, ADNOC Distribution operates fewer than 900 fuel stations across Egypt, the UAE, and Saudi Arabia. However, the company plans to increase this number to 1,000 by 2028 while adding over 500 EV charging points.
Full story ADNOC eyes expansion into Egypt’s EV charging, fuel market - Dailynewsegypt
Share this:
