Revolutionizing the Car Rental Industry: PetroRent Joint Venture Unveiled
In a groundbreaking collaboration that is set to shake up the car rental and leasing sector, Petromin Corporation and Transregions have joined forces to launch their new venture, “PetroRent,” in partnership with Al-Rowad International Logistics Company.
The official signing ceremony, held at the prestigious Al-Dabbagh Group Head Office, marked the beginning of a strategic alliance aimed at providing customized rental and leasing solutions for businesses and consumers alike.
The event was graced by the presence of industry titans such as Amr Al Dabbagh, chairman and CEO of Al Dabbagh Group, as well as key executives from Petromin Corporation and Transregions Group. Notable attendees included Kalyana Sivagnanam, group CEO of Petromin Corporation; Abdulillah Zahid, chairman of Transregions and Al-Rowad International Logistics Company; and Ehab M. Saeed, CEO and managing director of Transregions.
Expressing his enthusiasm for the partnership, Kalyana Sivagnanam, group CEO of Petromin Corporation, declared, “This collaboration reflects our shared vision to offer premium mobility solutions that cater to the evolving needs of our customers. Our aim is to set new benchmarks in the car rental industry.”
Ehab Saeed, CEO of Transregions, chimed in, stating, “With our four-decade track record in the rental and leasing arena and Petromin’s deep automotive knowledge, PetroRent is poised to lead the industry. We are thrilled about the possibilities for growth and innovation ahead.”
PetroRent leverages Petromin’s automotive expertise and market presence alongside Transregions’ strategic acumen and operational excellence cultivated under the leadership of Abdulillah Zahid. This partnership seeks to establish a rental and leasing service that not only meets but surpasses modern consumer expectations, with a focus on convenience, sustainability, and cutting-edge technology.
With Saudi Arabia’s car rental and leasing market forecasted to grow at a CAGR of 10%, PetroRent aims to position itself among the top five rental and leasing companies in the Kingdom within the next five years by tapping into Petromin’s extensive ecosystem, which includes dealerships, maintenance services, and used car sales.
