Hungary’s MOL Group to invest over EUR 15 M this year in Romania

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After the good financial results posted in recent years, including those from earlier this year, Hungary’s MOL Group decided to continue the investments in Romania. Thus, for this year Hungarian Group announced that will invest over EUR 15 million, an amount that does not include the acquisition of ENI gas stations, Kinga Daradics (photo), Country Chairman & CEO MOL Romania said in a press conference on Wednesday.

“These investments can go in logistics, business-to-business projects, retail or for efficiency,” Daradics explains.

According to her, last year, MOL Romania has invested EUR 11 million in the opening of 12 new gas stations, without making public the total amount of investments in 2014.

Since the group’s entry on the local market in 1995, MOL investments exceeds USD 200 million.

As regards the possible acquisition on Romanian market, Kinga Daradics said that, in terms of funding, the group has liquidities to make purchases anywhere in the world, but in terms of opportunities, these must be evaluated after group’s investment criteria.

The total fuel sales (in volume, including LPG and lubricants) of MOL Romania increased by 7 percent in the first quarter of 2015 up to 121 kilotonnes (kt), comparing to 113 kt in the first three months of the previous year, supported by network expansion of gas stations.

MOL Group has successfully completed the acquisition of ENI Romania, including the network of service stations, on February 2. The distribution network of Hungarian company on domestic market reached 200 stations.

 

 

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