WOQOD and Al MEERA have signed an MOU to enter into an Agreement to manage and operate WOQOD C-Store outlets
Qatar Fuel Company (WOQOD) and
Al Meera Consumer Goods Company (AL MEERA) announced that they had
signed a memorandum of understanding wherein WOQOD and AL MEERA will enter into
an Agreement to operate and manage current and prospective WOQOD’s Sidra
Convenience Stores, currently aggregating 65 C-stores’ outlets.
Both parties have agreed to exert their best endeavors to execute
the Definitive Operating and Management Agreement incorporating the detailed
terms and conditions within six (6) month period.
On this occasion, Mr. Saad Rashid Mohammed Al Muhannadi,
WOQOD Chief Executive Officer & Managing Director indicated that the agreement
conforms to WOQOD’s strategy for outsourcing non-core business activities
through contracting with specialized and/or professional entities/third parties
in accordance with the best practice. Additionally, he stressed that the agreement
poses a strong alliance between two publicly listed shareholding Qatari
companies responsible to consolidate the State of Qatar’s public policy towards
localization of the services in order to boost the country’s economy.
On his part Mr. Youssef Ali A Y Al-Obaidan, AL MEERA Chief
Executive Officer, explained that the agreement avails a favorable opportunity
for AL MEERA to further consolidate its activities and services through the
addition of Sidra C-Stores. As part of AL MEERA’s ambitious expansion strategy,
and with a view to provide outstanding services to consumers, this
collaboration will enable AL MEERA to offer consumers more diverse product
range, at competitive prices. Managing Sidra stores marks an important
milestone towards building a strong alliance with WOQOD and will allow both Qatari
companies to reach and serve many communities across the State of Qatar.