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Zamil Group wants to enter the renewable energy market according to the CEO of the company Adib Al Zamil. “Investing in new sectors is what has kept us going as a group. We continue to look, we’re continuously looking,” Zamil said.
Zamil Group has a diverse portfolio in manufacturing, petrochemical, real estate, offshore, trade and services, and others. Zamil Group’s started in the 1920s when Shaikh Abdullah Hamad Al Zamil, from Unaizah, in Al Qassim Saudi Arabia established his first trade and services business in Bahrain, the region’s trading hub at the time.
The group now wants to expand to other sectors and will invest in green energy, though it will continue its investment in oil. “The drilling that we’re doing supports oil. We were convinced that oil and gas will be here for a few more decades to come,” he added.
“We think it’s very important. I think its importance comes not only from its financial impact, which we think is quite viable but also from the value it will bring into the Kingdom. The importance of having a full ecosystem for oil and gas is critical for the Kingdom.” he added.
“The so-called energy transition that everyone’s talking about, cannot happen without the continuity of oil and gas being supplied in an orderly manner. I’m not saying that no one really cares; no, we do care. We’re doing all that we can do to neutralize our carbon emissions. Substitutes are not available now. It’s very nice to talk about the future, but today we have a life to live, and we need gas and oil.” he said.
In June 2021, the company bought Egypt ADES which is one of the biggest oil and gas producers. “The Zamil group is a wholly-owned, family private company. Our subsidiaries are listed, but as a group, there is no intention to do this,” he added.