Mubasher: Qatar Fuel (Woqod) approved allocating QAR 816 million in the 2018 budget for the new projects set to be implemented in the new year, said company CEO Saad Rashid Al Muhannadi on Thursday.

Woqod owns and operates 58 station fuel stations that will be increased to 59 stations by the end of 2017, according to a statement to the Qatar Stock Exchange (QSE).

The company plans to complete and operate another 15 stations and additional mobile fuel stations in 2018, Al Muhannadi added on the sideline of the board’s meeting.

Al Muhannadi noted that contenders will be invited to bid for constructing 18 stations by the first quarter of 2018, highlighting that Woqod expects the number of its stations to reach 122 by 2022.

Woqod’s 2018 budget will include purchasing two new ships to shore up the operations of its subsidiaries, the top official said.

He also revealed plans to boost Woqod’s business in infrastructure and petroleum products storage, distribution and marketing projects.

The budget also includes expenditure items for maintenance, asset integrity, health, safety and environment, Al Muhannadi said.

Moreover, the company intends to increase its stake in non-oil activities by 15% per year until 2022, according to the company CEO.