Petrol Bonus JV launched in Montenegro
After winning the tender to establish a joint venture with Montenegro´s state-owned oil firm MontenegroBonus, Slovenian player Petrol has officially launched the venture on the Montenegrin market with its new partner.
The new company will be known as Petrol Bonus. Petrol Bonus will invest around €154 million in the Montenegrin market, and among the top priorities will be entry into the retail market with 20 service stations, construction of a laboratory and a storage depot for oil refined products, and engagement in gasification projects.
Petrol Bonus also expects to become the state´s partner in storing mandatory oil reserves. Petrol is also planning to expand the joint venture´s activities from Montenegro to neighbouring markets such as Serbia, Bosnia and Herzegovina, Albania, Macedonia and Kosovo as part of its regional development strategy.
Petrol said that the joint venture company will be engaged in Montenegro´s energy development, as well as construction and reconstruction of energy facilities and infrastructure, and delivery and sale of competitive oil products in accordance with EU standards.
Marko Kryzanowski, president of the board of Petrol, said: "I believe that our partnership with MontenegroBonus marks the beginning of our excellent co-operation on the market of Montenegro, and that in the following years the joint company Petrol Bonus will become the leading company in its branch of business." (petrolplaza.com)
ADVERTISEMENT
MBH Bank Closes Acquisition of Duna Takarék Bank
Orbán Augurs Economic Rebound From Q3
Corvinus Uni, ExxonMobil Sign Cooperation Deal
Budapest Muni Council Clears Rác Baths Renovation
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
