(MENAFN- Gulf Times) Woqod, which is expecting to construct 15 to 18 petrol stations, has outlined a total expenditure of about QR1.3bn for capital projects for 2016.
The company's board, chaired by Sheikh Saoud bin Abdulrahman al-Thani, yesterday approved the total budget, which includes operating and capital expenditures.
Focusing on accelerating the construction process of petrol stations, Woqod said the expected number of new fuel stations in 2016 will be around 15 to 18, in addition to new expansions for existing stations, new Sidra Store and five 'FAHES' centres including Al-Mazrua'a project for vehicle inspection.
Al-Mazrua'a main centre will replace the industrial head quarter, which will be closed and renovated as commercial offices.
The board also discussed other projects such as new storage for bitumen, liquefied petroleum gas and compressed natural gas businesses.
It also perused the amendments to be carried out in the Articles of Associations relating to addition of the Sidra Convenience Store business to the objects of the company and the addition of car services and external media announcements from the gas stations.
It is also seeking to amend articles relating to deletion of the minimum share ownership (previously determined to be not less than 100 shares) and increasing the annual board meetings from four to six.
The board decided that the meeting of the ordinary and extra-ordinary general assembly will be held on March 6, 2016, and the first reserve meeting on April 6, 2016 and third on June 6, 2016.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.