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Seventy-percent contribution from local manufacturers and suppliers to ADNOC Distribution

Seventy-percent contribution from local manufacturers and suppliers to ADNOC Distribution
29 May 2024 08:37

HOSSAM ABDEL NABI (ABU DHABI)

Local manufacturers and suppliers currently contribute 70% to ADNOC Distribution stations, with plans to increase this percentage, according to CEO Bader Saeed Al Lamki. Speaking at the “Make It in the Emirates” Forum, Al Lamki highlighted opportunities for industrial and local companies within ADNOC Distribution’s growth plans, with $250-$300 million allocated annually to support these initiatives.

Al Lamki noted that Emirati industrial products have gained global credibility, evidenced by ADNOC oils manufactured in the UAE and distributed in 40 countries. This success underscores the quality and reputation of Emirati products.

ADNOC Distribution’s participation in the “Make It in the Emirates” Forum, organised by the Ministry of Industry and Advanced Technology in collaboration with the Department of Economic Development - Abu Dhabi and the ADNOC Group, aligns with its goals to maximise national company participation in growth programmes.

Al Lamki emphasised ADNOC Distribution’s commitment to the Ministry of Industry and Advanced Technology’s initiatives, including the “Project 300 Billion,” which aims to increase the industrial sector’s GDP contribution from Dh133 billion to Dh300 billion by 2031.

ADNOC Distribution continues to advance its growth strategy, solidifying its position in the fuel and retail sector. Last year, it expanded its operations by adding 280 new stations, including 240 in Egypt. This growth is attributed to local and international expansion, operational efficiency, and strategic cost-saving initiatives, achieving over $130 million in savings over five years.

ADNOC Distribution maintains its leading position in the UAE’s retail sector with a market share exceeding 65% and is the second-largest fuel retail company globally by market value, estimated at $13 billion. The company plans to expand its station network to 1,000 service stations by 2028, enhance non-fuel retail operations by 50%, and increase retail stores by 25%.

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