Agip goes ahead with plans for 5-7 new petrol stations this year

Agip Romania, the local subsidiary of Italian petroleum giant Eni, will expand by 5-7 petrol stations, so the group's retail network will reach 44 stations by the end of 2009, 60% more than at the beginning of 2008. By 2011, the company intends to reach an up to 10% market share, from the current 2.5%, following a 36 million-euro investment. "For 2009, we expect a turnover increase. Our investment budget corresponds to our organic growth plan, which provides for the construction or acquisition of another 5-7 stations, which would bring Agip 's portfolio to 42-44 stations by the end of 2009," said Nicola Meuli, general manager of Agip Romania. At present, the company has 37 stations, accounting for a 2.5% market share. "Owing to the recent acquisitions, our market share will be of 2.5%, but our longer-term goal is to secure an 8-10% market share by the end of our four-year investment plan," Meuli added.