Wafi and Shell Global sign concession agreement
Wafi Energy Company (Wafi) has signed a franchise agreement with Shell Global that allows the latter to establish and operate Shell Global fuel stations and car services for Wafi in various cities throughout Saudi Arabia. The Minister of Municipal and Rural Affairs and Housing, Majid bin Abdullah Al-Hogail, attended the signing of the agreement. Additionally, Wafi signed a Memorandum of Understanding with the Ministry of Municipal and Rural Affairs and Housing, so they can make use of the services of the investment portal “Foras” run by the Ministry, which was created to support public-private partnerships and integration.
The goal of this is to provide investment opportunities for interested private parties while maintaining the planning standards and development trends of cities and their needs. This is done by maintaining the availability of urban real estate suitable for this type of activity. Shell Global operates more than 46,000 gas stations in 80 countries, making it one of the largest operators of gas stations and car services in the world. The company is the technical partner and primary sponsor of the Ferrari Formula 1 team. Shell Global will transfer its latest expertise to the Kingdom to provide the very latest technology at the highest international standards.