News Oil & Gas

Petromin, HPCL to invest $700 mn in fuel stations, multi-brand vehicle service workshops & EV charging stations


Saudi mobility solutions player Petromin Corporation KSA in partnership with Hindustan Petroleum Corporation Limited (HPCL) will invest $700 million in three strategic areas– fuel stations, multi-brand vehicle service workshops and EV charging stations.

The investment will be made over the next five years.

Petromin Express India, a subsidiary of Petromin Corporation, KSA will be partnering with HPCL to invest around $100 million to set up around 1,000 vehicle service centres at HPCL retail outlets in India.

The companies will also invest around $100 million to install and operate up to 5,000 electric vehicle charging units at HPCL operated stations throughout India. These charging stations will offer both high-speed DC chargers and AC chargers as well.
Another $500 million will be invested towards operating up to 500 fuel stations in KSA, Middle East and Africa.”A joint venture as per the local laws and regulations will be formed,” the companies said in a statement. The announcement was made at the India Invest Forum organized with Saudi Arabia’s Ministry of Investment at the G20 Summit, New Delhi.”This (association) will create new job opportunities, attract further investments, and facilitate transfer of technology between Saudi Arabia and India,” said Kalyana Sivagnanam, Group CEO, Petromin Corporation.Petromin is the leading Saudi mobility solutions player in automotive technology, multi-modal mobility, and sustainable transportation segment.

Operating in the Kingdom of Saudi Arabia, since 1968, it started building its reputation for producing the highest quality lubricants in the region which grew overtime into a large mobility solutions provider to cover the entire automotive journey of the customer.

Petromin exports its products to over 40 countries in the GCC, Middle East, Africa, and Asia, with fast and reliable vehicle maintenance services backed by an extensive network of service centers that provide coverage across the region.


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