Bahrain Mirror: The Bahrain Petroleum Company (Bapco) General Manager of Private Projects, Khalid Al-Sabbagh, said the company will establish a private company to manage and develop its fuel stations with a capital of BD 250,000, wholly owned by Bapco, as part of a project for privatizing the fuel service stations sector of the company.

He added that the company's board of directors is currently being discussed, which has been submitted to the board of directors of Bapco. It will be officially announced after being registered with the Ministry of Industry, Commerce and Tourism, and will be listed on the Bahrain Stock Exchange after two years of operation after checking the profits recorded and audited by the Accounting and Auditing Company, as per the terms of the subscription.

He explained that 16 gas stations fully owned by Bapco will be initially included, pointing out that there are plans to open 10 gas stations in the new housing areas such as Busayteen, Al-Mameer, Al-Hidd and Salman Town, as well as two stations in the Budaiya area, one close to Al-Maqshaa and the other in Budaiya over the next five years at a value of 1 million dinars per station, ie a total of 10 million dinars. On the other hand, he said Bapco's "Sadeem" cards helped companies to control fuel spending as each card is for one vehicle only.

Arabic Version