The Clap
Saudi Automotive Services Company (SASCO) is planning to build the “largest fuel station” in the Kingdom in Q2-24.
The station is located on King Fahd Road, considered one of the “most important and vital” roads in the country.
What
Riyadh Al-Malik, SASCO’s CEO, stated in an interview with CNBC Arabia that the cost of launching the giant station, “Al Jazeera 1,” is expected to reach SAR 35 million.
So What
The “Al Jazeera 1” station covers an area of 280,000 square meters, situated on the central island between the highway connecting Riyadh to the Qassim region. It is the busiest in Saudi Arabia, with an average traffic exceeding 100K vehicles.
Some Context
Al-Malik revealed that the company has loans amounting to SAR 1.4 billion, with SAR 369 million repaid last year. He added that most of the company’s loans are long-term and medium-term, and SASCO has cash flows that allow for their repayment.
Now What
Al-Malik mentioned that SASCO will launch another “model station” during Q2, intending to provide logistic services for travelers. The company owns and operates 541 local stations, with plans to introduce 50 new stations into service this year.
This aims to reach a total of 600 stations by the end of 2024, covering key regions in Saudi Arabia. The CEO also highlighted SASCO’s market share in fuel stations in the Kingdom, reaching up to 5%.
