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Asif Iqbal
Doha
Qatar Fuel (Woqod) on Wednesday said it plans to double the petrol stations in the country in the next five years.
Speaking at a meeting to approve the company's annual budget for the year 2018, CEO Saad Rashid al Muhannadi said the company is planning to have up to 122 stations in place by the year 2022.
The company currently has 58 petrol stations, while the 59th station will become operational by the year-end.
According to Muhannadi, Woqod plans to complete and operate 15 additional stations in 2018 along with another 15 mobile stations to curb traffic congestions at petrol stations.
The CEO further said that tenders for construction of 18 petrol stations would be awarded during the first quarter of year 2018.
Regarding the capital expenditure for next year, Muhannadi said the company has allocated QR816 million for the establishment of new projects in 2018.
Regarding vehicle technical inspection centres (Fahes), the CEO said currently there are six centres operating in the country, to which Al Shahaniya centre will be added in the beginning of 2018, and the tender for the construction of Al Mazrooua centre will be issued within the first quarter of next year, taking the total number of the centres to eight.
Muhannadi said the budget proposal included the purchase of two new ships to boost the operation of subsidiary Woqod Marine Services.
"The company is determined to effectively participate in petroleum products distribution and storage, and marketing infrastructure projects in collaboration with the concerned parties.
"The budget also includes expenditure for maintenance, asset integrity, health, safety and environment," he added.
Announcing the five-year business plan, Muhannadi said the company has an ambitious plan to increase its share in the market for distribution and transportation of petroleum products, gas, bitumen, bunker fuel, oils and lubricants through the construction and operation of the various projects required for these activities.
"The company plans to increase its stake in non-petroleum activities provided for by its articles of association by 15 percent per annum until the year 2022, and will also increase the number of CNG stations to meet the requirement set by government," he said.
The Woqod CEO reiterated that the company plans to carry on with its plan in 2018 to achieve the best returns for its shareholders through the performance of its activities and implementation of projects, supported by a structured plan for cost optimisation.