Petromin announces plan to invest in 230 petrol stations

State-controlled Petromin Corporation of Saudi Arabia is planning to invest nearly SAR 2.5 billion (USD 666 million) to build 230 petrol stations in the next few years.

The project will be executed until 2020 and is intended to face rising domestic demand for petrol and lubricants and create jobs for Saudis, the Arabic language daily Aleqtisadiah said, quoting Petromin’s CEO Samir Nowar.

“We have allocated 2.5 billion riyals for the project…20 of those stations are currently underway and will be ready before the end of the year,” he was quoted as saying.

The stations would be constructed in various parts of Saudi Arabia and would be operated by Petromin, which is 71% owned by Saudi Aramco.