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03-Oct-2019

Aldrees to renovate 148 stations by 2020 for SAR192mn

Aldrees Petroleum & Transport Services [4200.SE] is looking to spend a portion of additional profit resulting from the petrol station operator margin increase on continued site renovations, Vice Chairman Abdulmohsen Aldrees said. So far, the company has renovated 270 stations for a total cost of SAR351mn and is looking to renovate an additional 148 sites by 2020 at an estimated cost of SAR192mn. 
 
Aldrees Petroleum & Transport Services : SAR53.30 as of 2 Oct. 2019, Rating: Buy, TP: SAR64.0/share, MCap: USD853mn, ALDREES AB/4200.SE