Petrom to invest 90m euros in upgrading petrol stations

Petrom, the largest Romanian company, will invest around 90 million euros next year, to upgrade 75 petrol stations, around 40 of which will be turned into PetromV stations. The PetromV concept entails incorporating additional services into the petrol station, such as a restaurant, playgrounds for children and even payment opportunities. “The investment in upgrading a petrol station amounts to around 1-1.2 million euros,” said Tamas Mayer, a member of Petrom’s executive board, head of the marketing division, i.e. of petroleum products retail. Currently, 100 filling stations of Petrom’s 500 operate under the PetromV concept, with their number being set to increase to 250 stations by 2010. The marketing investment budget for this period stands at 500 million euros, of which 300 million euros have already been invested in the 2005-2007 period. The company does not intend to expand the current number of filling stations, with Petrom officials specifying that the 500 stations currently held by the company represent the optimum number.