In a significant collaboration set to change the landscape of car rental and leasing services, Petromin Corporation and Transregions, represented by Al-Rowad International Logistics Company, have officially unveiled their joint venture, “PetroRent.” The signing ceremony was held at the Al-Dabbagh Group Head Office and marked the commencement of a partnership aimed at offering personalized car rental and leasing solutions to both businesses and consumers.
The signing ceremony and the unveiling of the “PetroRent” brand were honored by the presence of H.E. Amr Al Dabbagh, Chairman and CEO of Al Dabbagh Group, along with senior leaders from Petromin Corporation and Transregions Group. Key attendees included Kalyana Sivagnanam, Group CEO of Petromin Corporation; Sheikh Abdulillah Zahid, Chairman of Transregions and Al-Rowad International Logistics Company; and Mr. Ehab M. Saeed, CEO and Managing Director of Transregions.
Kalyana Sivagnanam, Group CEO of Petromin Corporation, expressed, “This partnership embodies our collective ambition to provide top-tier mobility solutions that align with the changing needs of our customers. Our goal is to redefine the standards within the car rental sector.”
Ehab Saeed, CEO of Transregions, stated, “With our forty years of experience in the rental and leasing industry and Petromin’s strong automotive knowledge, PetroRent is poised to be an industry leader. We are excited about the potential for growth and innovation together.”
“PetroRent” merges the automotive knowledge and market dominance of Petromin with the strategic insight and operational proficiency of Transregions, which boasts over 40 years of experience in the rental and leasing sector, guided by Sheikh Abdulillah Zahid. This collaboration seeks to create a car rental and leasing service that not only fulfills but surpasses the needs of today’s consumers by emphasizing convenience, sustainability, and advanced technology.
The car rental and leasing market in Saudi Arabia is expected to expand at a compound annual growth rate (CAGR) of 10%. By utilizing Petromin’s established ecosystem, which encompasses dealerships, maintenance services, and used car sales, “PetroRent” aims to rank among the top five rental and leasing companies in Saudi Arabia within the next five years.
About Petromin
Petromin Corporation is a leading global pioneer in automotive services, driving transformation through sustainable and innovative mobility solutions. With a mission to enable the seamless movement of people, products, and services, Petromin serves individuals and businesses alike, delivering excellence across its diverse offerings.
About Transregions
TransRegions Company (TRCC) is spearheaded by Sheikh Abdulillah Zahid, a distinguished leader in the rental and leasing sector. With a proven track record of building and listing Budget Saudi, Sheikh Abdulillah brings a wealth of experience and visionary leadership to Petrorent.
