In line with earlier announcements, the Greek fuel supplier Hellenic Petroleum Group unveiled more detailed plans to invest BGN 150mn (EUR 76.7mn) over a period of 4 years to double its distribution network in Bulgaria to about 100 pump stations. The locally registered subsidiary Eko Elda will open 12 to 15 new units by the end of this year. The expansion plan incorporates both green-field investments and acquisitions but does not envisage franchising agreements. Eko Elda is among the candidates to take over the 17 petrol stations of the Turkish Opet Aygaz.
Source: Intellinews-Bulgaria Today