The company is investing over EUR 10 million in a new petroleum depot
The EKO chain of filling stations plans to expand its network in Bulgaria in the next 5 years, to a total number exceeding 100 petrol stations. The company announced its plans at its 10th birthday on the local market. Apart from increasing the retails sites that are 81 currently, EKO Bulgaria will also invest over BGN 20 million in the building of a new petroleum depot at Yana Station near Sofia. With that the company would expand its logistics infrastructure that currently includes two LPG depots. The new terminal is to be complete in 2013.
The investments made by EKO since its start of operations in Bulgaria in 2002 amount to BGN 250 million. At the moment the company has reached a market share of above 10% on the retails fuel market. „In a downturn of the whole market EKO introduced new products with high quality and additional value for the consumers. Those products supported our upward development. On the long term our goal is to be in Top 3 on the Bulgarian market”, commented the Executive Director of EKO Bulgaria Yannis Polykandriotis. He stressed that the next stage of the business development in Bulgaria the company is working on a programme for launching new filling stations on the basis of franchising. „At the same time we would not reject to buy an existing station, should a good opportunity arises”, Polykandriotis said.
The plans for the development of EKO Bulgaria are part of the development strategy of Hellenic Petroleum Group, which is the owner of the company. As the biggest commercial and industrial corporation in Greece Hellenic Petroleum Group has performed an investment programme worth EUR 3 billion in 2008 – 2012. The group is finalising the biggest industrial investment in Greece and in Europe in the sector over the last decade – the upgrade and modernisation of the Elefsina refinery which is under completion. It is worth over EUR 1,2 billion and will result in reducing harmful emissions with up to 85% and will increase the export potential of the group. Elefsina is one of the four refineries of the group, together with Thessaloniki and Aspropyrgos in Greece as well as OKTA in FYROM. The fuels produced by them are loading the network of a total of 2300 filling stations EKO in Bulgaria, Greece and 5 other countries in the region.
Hellenic Petroleum Group is one of the leading energy players in South Easters Europe with presence in 9 countries in the region – in refining and marketing of petroleum products, energy production and exploration. The Group employs more than 4000 people.
The sales of the group for 2011 amount to EUR 9,3 billion and the EBITDA is EUR 375 million.
Source: BPGA, Eko Bulgaria