Austrian oil and gas company OMV plans to spend €15 million (Ft 4 billion) to build about 40 gas stations in Hungary, refining and sales director Gerhard Roiss announced in Vienna on Wednesday.
OMV currently operates 164 gas stations in Hungary. Beyond the increase of its retail network, OMV does not plan other investments in Hungary, Roiss said.
Roiss said OMV considered the investment worthwhile because of the cheap cost of transporting its products to Hungary: OMV ships the products from its refinery in Schwechat down the Danube to Hungary. He added that OMV does not wish to compete with Hungarian oil and gas company Mol Nyrt, but rather aims to establish its presence on the market for premium products.
OMV earlier purchased Aral's and BP's petrol stations in Hungary.