Woqod and Al Meera Sign a MoU by which Al Meera to
Manage and Operate Sidra Stores
July 29, 2019
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 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.
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