Qatar Fuel Company (Woqod) and Al Meera Consumer Goods Company (Al Meera) have signed a memorandum of understanding 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 a six-month period.
Woqod CEO & managing director Saad Rashid Mohamed al-Muhannadi said the agreement conforms to Woqod’s strategy for outsourcing non-core business activities through contracting with specialised and/or professional entities/third parties in accordance with best practices.
Additionally, al-Muhannadi 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 localisation of the services in order to boost the country’s economy.
Al Meera CEO Youssef Ali A Y al-Obaidan said the agreement avails a favourable 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 a 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.