Taqa Arabia Acquires 10% Stake in Egypt’s Wataniya Fuel Station Operator

Egypt’s National Service Projects Organization (NSPO) signed an agreement with publicly listed energy company Taqa Arabia to transfer ownership of a stake in a portfolio of 172 fuel stations operating under the Wataniya brand, marking a significant milestone in the government’s efforts to expand private-sector participation in state-owned assets.

The agreement follows the completion of a comprehensive restructuring process for the fuel station network and paves the way for a new phase of operations and expansion through a dedicated operating company, Quick Fuel for Petroleum Products Trading and Distribution.

Under the terms of the deal, Taqa Arabia will acquire a 10% equity stake in Quick Fuel and assume responsibility for managing and operating the network, according to officials involved in the transaction.

The transaction forms part of Egypt’s broader state-ownership reform strategy and government privatization agenda, which seeks to attract private investment into key economic sectors while improving operational efficiency across state-owned enterprises.

Prime Minister Mostafa Madbouly described the partnership as a strategic step aligned with Egypt’s State Ownership Policy Document and the government’s ongoing program of public asset offerings.

He said the agreement reflects the state’s commitment to strengthening the role of the private sector as a primary driver of economic growth and sustainable development.

The fuel station network was previously owned and operated by the NSPO, one of Egypt’s largest state-affiliated economic entities. Following the restructuring process, ownership and operational responsibilities are being transitioned to Quick Fuel, creating a platform for future expansion and modernization.

Majdy Anwar, Director General of the National Service Projects Organization said Taqa Arabia will not only acquire a minority stake but will also sign a long-term management and operating agreement with Quick Fuel.

The company will oversee day-to-day operations, implement development plans, improve operational efficiency, and enhance service quality across the network of 172 stations.

The arrangement effectively positions Taqa Arabia as the strategic operating partner responsible for driving growth and modernization initiatives within one of Egypt’s largest fuel retail networks.

Pakinam Kafafi, Chief Executive Officer of Taqa Arabia said the management and operation of the Wataniya fuel stations under the Quick Fuel platform represents a significant step in the company’s expansion strategy within Egypt’s petroleum products distribution and marketing sector.

She noted that the agreement will strengthen Taqa Arabia’s footprint in the downstream energy market while supporting efforts to improve customer experience and service standards across the station network.

The deal is also being viewed as a signal of Egypt’s continued commitment to economic reforms and private-sector-led growth. Officials say increased private-sector involvement is expected to enhance governance standards, improve financial performance, and maximize the value of state-owned assets.

Mohamed Farid Saleh, Minister of Investment and Foreign Trade and Chairman of Egypt’s Sovereign Fund, said the transaction supports the government’s objective of boosting private-sector participation in the economy while advancing broader structural reform efforts.