2023-10-02 14:58:41
Monday, October 2, 2023 – 6:55 p.m
Abu Dhabi, 2nd October / WAM / Engineer Badr Saeed Al Lamki, CEO of ADNOC Distribution, confirmed that the company continues to search for attractive investment opportunities and expand into new markets that will achieve lucrative returns for shareholders.
Engineer Badr Al Lamki said, in statements to the Emirates News Agency, WAM, on the sidelines of the activities of the ADIPEC 2023 exhibition and conference: We are continuing to search for new investment opportunities within our expansion plans, and they will be announced at the appropriate time following meeting all conditions and obtaining the necessary regulatory approvals.
Al Lamki added that ADNOC Distribution has a clear roadmap to reduce carbon emissions from its operational operations by 25% by 2030 and achieve climate neutrality by 2050, in line with the UAE’s directions and strategies towards achieving zero neutrality.
He explained that ADNOC Distribution has actually begun implementing sustainable energy projects in its fuel distribution stations, including generating electricity through photovoltaic cells, in addition to introducing the electric car charging service at ADNOC Distribution stations, which has reached 32 charging points in strategic areas across the main roads across the country. It allows electric vehicle users to recharge their cars safely and quickly.
Al Lamki pointed to ADNOC Distribution’s plans to expand in the field of hydrogen and contribute to the sustainable transportation process, adding that the company obtained sustainable financing worth $1.5 billion linked to the sustainability goals to which the company is committed.
Regarding smart expansion plans, Engineer Badr Saeed Al Lamki said that the company holds a 66% share of the local market, as part of ADNOC Distribution’s commitment to the smart growth policy.
He pointed out that the Saudi market in which the company is present is large and promising and has characteristics that attract investment, as ADNOC Distribution has begun the first phase of its expansion plans in the Kingdom of Saudi Arabia with a portfolio that includes 67 fuel distribution stations.
He added that at the beginning of the current year 2023, ADNOC Distribution completed the acquisition of 50% of Total Energy Marketing Egypt, which today operates 240 fuel distribution stations, noting that the first 3 stations bearing the ADNOC Distribution identity were launched in the Egyptian market within the framework of The company’s strategy is smart growth and entering new markets.
It is worth noting that in January 2023, ADNOC Distribution announced its plans to reduce emissions resulting from its operations and reduce carbon intensity by 25% by 2030, through a commitment to achieving sustainability in its daily operations in order to enhance its business readiness for the future and achieve sustainable returns for its shareholders in the long term. Since then, the company has taken concrete steps to fulfill this commitment and achieve the energy transition.
The company also announced the conclusion of a partnership with “Emerge”, the joint company between Abu Dhabi Future Energy Company “Masdar” and “EDF”, to install solar panels at ADNOC Distribution service stations in the Emirate of Dubai as part of the company’s approach to gradually install solar panels at the company’s stations. At the UAE level to supply service stations with clean energy.
Mustafa Badr Al-Din / Ahmed Al-Nuaimi
1696259218
#Emirates #News #Agency #ADNOC #Distribution #exploring #investment #opportunities #part #plans #expansion #growth