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PetroRent Joint Venture Set to Transform Car Rental and Leasing Services in Saudi Arabia
Petromin Corporation and Transregions launch 'PetroRent,' aiming to reshape the car rental market in Saudi Arabia with personalized solutions and cutting-edge technology.
Petromin Corporation and Transregions, through Al-Rowad International Logistics Company, have officially launched a new joint venture, PetroRent, aimed at transforming the car rental and leasing services in Saudi Arabia.
The signing ceremony took place at the Al-Dabbagh Group Head Office and was attended by key figures including Amr Al Dabbagh, Chairman and CEO of Al Dabbagh Group, and senior leaders from both Petromin and Transregions.
The partnership combines Petromin’s automotive expertise and market presence with Transregions’ experience in the rental industry, dating back 40 years under Abdulillah Zahid’s leadership.
Kalyana Sivagnanam, Group CEO of Petromin, emphasized the goal of providing top-tier mobility solutions and redefining the standards within the car rental sector.
Ehab Saeed, CEO of Transregions, highlighted the opportunity for growth, stating that the combined strengths of both companies position PetroRent to become a leader in the sector.
The car rental and leasing market in Saudi Arabia is projected to grow at a compound annual growth rate (CAGR) of 10%.
PetroRent aims to establish itself among the top five companies in the Kingdom within the next five years, leveraging Petromin’s extensive ecosystem, including dealerships, maintenance services, and used car sales.
The signing ceremony took place at the Al-Dabbagh Group Head Office and was attended by key figures including Amr Al Dabbagh, Chairman and CEO of Al Dabbagh Group, and senior leaders from both Petromin and Transregions.
The partnership combines Petromin’s automotive expertise and market presence with Transregions’ experience in the rental industry, dating back 40 years under Abdulillah Zahid’s leadership.
Kalyana Sivagnanam, Group CEO of Petromin, emphasized the goal of providing top-tier mobility solutions and redefining the standards within the car rental sector.
Ehab Saeed, CEO of Transregions, highlighted the opportunity for growth, stating that the combined strengths of both companies position PetroRent to become a leader in the sector.
The car rental and leasing market in Saudi Arabia is projected to grow at a compound annual growth rate (CAGR) of 10%.
PetroRent aims to establish itself among the top five companies in the Kingdom within the next five years, leveraging Petromin’s extensive ecosystem, including dealerships, maintenance services, and used car sales.
