ADNOC Distribution signs agreement with Department of Urban Planning and Municipalities for Abu Dhabi expansion
Abu Dhabi's Department of Urban Planning and Municipalities (DPM) has signed a cooperation agreement with ADNOC Distribution to establish eight service stations across Al Reem Island.
The agreement, which includes two marine units and includes Bunya Enterprises, Aldar Properties, Reem Developers, and Tamouh Investments, aims to meet Abu Dhabi's rapid growth requirements, state news agency WAM reported.
It was signed by Mubarak Obaid Abdullah Khamees Al Dhaheri, Undersecretary of the DPM, Saeed Mubarak Al Rashdi, acting CEO of ADNOC Distribution, Tariq Hatem Sultan, CEO of Bunya Enterprises, and Fahad Al Ketbi, deputy CEO at Aldar Properties.
ADNOC Distribution said in August it is “on track” to achieve cost savings of approximately AED190 million ($51.73 million) in 2018.
ADNOC Distribution acting CEO Saeed Mubarak Al Rashdi’s comments came as the company reported a net profit of AED1.12 billion in the first half of 2018, an 18 percent increase from the same time period in 2017.For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.