Sheikh Saoud (left) and al-Kuwari. Some 22 Woqod projects are now under construction and 16 in the design and approval stages, whle three projects are being tendered, al-Kuwari said.
Woqod has posted a nine-month net profit of QR856mn, up 2.8% on the same period last year.
The results were announced in Doha yesterday after a meeting of Woqod’s board of directors presided over by chairman Sheikh Saoud bin Abdulrahman al-Thani.
Woqod chief executive officer Ibrahim Jaham al-Kuwari said the board also examined the company’s current and future projects and other related issues and gave its directives.
Despite increasing capital base through issuing 30% bonus shares in 2013, earning per share (EPS) amounted to QR10.14 in September compared with QR9.86 for last year.
While total assets reached QR10.7bn, total shareholder’s equity recorded a gross increase of 5.3% to reach QR6.6bn.
Al-Kuwari said some 22 Woqod projects were under construction and 16 in the design and approval stages. Three projects are being tendered.
Some 13 Woqod petrol stations are under construction, he said. These are at Al Wakrah, Al Wajba, Al Jumailia, Lusail, Al Thakeera, Liktaifia, Al Musahabia, Al Shamal North, Al Rayyan New, Sodanatheel, Fleeha, Ben Dirham, and Hamad International Airport. A project is also under construction in the neighbouring Saudi Arabia.
Some of these projects are expected to be opened before end-2014, while the others will be completed during 2015.
Six petrol stations are in design stages at New Mesaimeer, Education City North, Education City Bani Hajer, Smeisma, Al Refaa Street and Al Thomama. The completion of these projects is expected during H1, 2015.
A petrol station project in Um Karn is in tendering stage.
Al-Kuwari said some 25 locations are currently under review with the Ministry of Municipality for Woqod’s future projects. These projects will cover new areas such as the South Motorway and Doha Expressway.
He said 10 expansion projects linked to existing petrol stations have been taken up at Ein Khalid, Muaither, Al Thaayen, Bu Fasila, Al Seelia, West Bey, Mesaimeer East, Wadi Al Banat, and Al Gharrafa. These are expected to be completed before end-2014.
Four new projects for establishing C-Store (Sidra) at Hamad Hospital, Aamal Tower, Barwa City and Barwa Commercial Avenue are in design stages. These are expected to be completed before end-2014, the Woqod CEO said.
Al-Kuwari said Woqod’s LPG sales grew by1 % during the period under review and the number of cylinders refilled and sold reached about 1.2mn (metal) and 356,000 (Shafaf).
In respect of bitumen sales, Woqod has signed a contract with Ashghal to supply bitumen 60/70 and modified (polymer) to its contractors.
Woqod will build additional storage tanks and already purchased a new ship for this purpose. This will result in a dramatic increase in bitumen sales in the coming period.
During the period, the total volume of sales of petroleum products (diesel, gasoline and jet fuel) reached 1,888mn litres, which shows an increase of 11.7% compared to the same period last year. Woqod also provides diesel tank lease and diesel transport vehicles to both businesses and individuals.
Two vehicle inspection centres to be inaugurated before year-end
Two technical inspection centres for vehicles (Fahes) will be inaugurated before the year-end, Woqod said yesterday. These are at Al Mamoura and Wadi Al Banat. The two inspection centres have already been completed and tested and are waiting for official inauguration before end-2014. Woqod also said three new technical inspection centres for vehicles - at Al Shahaniah, North City and Al Khor are currently in the design stage. These are expected to be commissioned in 2015.