As part of its five-year development goal, Adnoc Distribution, the biggest gasoline and convenience retailer in the UAE, intends to more than double the quantity of rapid electric vehicle (EV) charging stations.
Abu Dhabi company of state-run energy company Adnoc intends to deploy 500 rapid EV chargers during the next five years.
“The company has 90 fast EV charging points and aims to reach 150-200 by the end of the year,” Bader Saeed Al Lamki, CEO of Adnoc Distribution said.
Adnoc Distribution intends to increase the number of fast electric chargers and extend its network of petrol stations in Saudi Arabia, Egypt, and the United Arab Emirates.
With an existing network of 840 stations in the United Arab Emirates, Egypt, and Saudi Arabia, the company plans to increase that number to about 1,000 stations.
“Adnoc Distribution plans to open 15 to 20 new fuel stations this year and expand non-fuel retail services,” Al Lamki said.
Earlier this month, the business revealed a 2.3% growth, bringing the annual net profit for the first quarter to AED550 million ($150 million). For the first quarter of 2024, net profit before UAE corporate tax was AED607 million, an increase of 13% from the previous year.
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