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Emarat signs JV pact to set up service stations in Egypt

The new company, in which Emarat will hold 50 per cent equity, will set up at least 35 service stations across Egypt in the first stage.

The joint venture agreement was signed by Rashid Al Shamsi, general manager of Emarat, Engg.Maher Abazza, chairman of MIDTAP and Engg.Mahmood Nazeem Najeeb, chairman of MIDOR. The signing ceremony was held at the Egyptian ministry of petroleum in Cairo and attended by Sameh Fahmi, the Egyptian minister of petroleum, and Ahmed Al Meel Al Zaabi, UAE ambassador to Egypt.

Emarat said that through this joint venture it has become the first UAE petroleum-retailer to set up a full-fledged service station network outside the country. It said that the new company will be backed by an investment of Egyptian pounds 100 million and will take the petroleum retailing industry in Egypt to a new dimension.

MIDTAP owns 48 per cent of the joint venture company, while MIDOR holds two per cent.

Al Shamsi said that Emarat Misr sites will be very similar to the Emarat stations in the UAE. These would provide the same high standards of quality and service that has made Emarat one of the most respected and well-known brands in the UAE today, he added.

In addition to petroleum, customers at Emarat Misr service stations will be able to avail a number of facilities and services including supermarket, automatic and manual car wash, lube express and a range of auto care services and ATM.

He said that at the moment, Emarat is also finalising a range of additional, non-conventional services to offer its UAE customers, which if found feasible, will be introduced at the Emarat Misr stations.

Al Shamsi disclosed that in addition to a 24-hour postal service at its stations, Emarat is finalising a joint venture agreement with the World Automotive Group to provide customers with a quick, mechanical repair service for light vehicles under the brand name of "Fast Track".

In cooperation with the UAE police, Emarat has recently launched "Shamil" to provide a fast and efficient annual registration renewal and vehicle testing service for automobiles.

"Outstanding quality products and a wide range of services, listening to customer demands and exceeding their expectation, diversification of our portfolio, offering a range of non-conventional services and a well-trained staff are some of the main reasons that have taken Emarat to its current leadership position. We are confident that this project will also further develop the bilateral trade relations between Egypt and the UAE," he added.