OMV Romania Mineraloel, owned by, Petrom, plans to open 103 fuel stations in Romania, Serbia and Bulgaria by 2010 and thus expand its network to 300 through a EUR 200 mln investment, Romanian national daily Ziarul Financiar reported Thursday.
By the end of the year, the company will open five stations in Bulgaria and 13 in Serbia, with the investment in each new petrol station reaching EUR 1.5-2 mln. The company is not planning to expand its fuel station network in Romania in 2007 as it will focus on extending services available at the stations.
Our view: These plans were already known earlier and thus folded in in our model. We see the neutral market reaction to the news.