Rompetrol Gas finalizes USD 11 million investment in LPG terminal

Rompetrol Gas has finished an USD 11 million investment in a new liquefied petroleum gas (LPG) bottling terminal in Bacau county. The new Rompetrol Gas unit will have an annual bottling capacity of 20,000 of LPG and is able to store some 1,500 cubic meters.

Rompetrol Gas has invested a total of USD 50 million in Romania since 2006.

“Currently, we have a market share of 35 percent on retail and we have plans to achieve a market share of 47 percent by the end of 2012. The LPG volumes at Rompetrol Gas have increased compared with last year’s numbers as a result of the investments we have made in this sector. This new unit will generate 50 new work places,” said Veron Toma, Rompetrol Gas GM.

According to him, the company estimates to recover the investment in Bacau in 8 to 10 years. The annual investments in LPG cylinders are expected to be USD 3 – 5 million.

Rompetrol Gas estimates a USD 165 million turnover this year, 13 percent higher compared to 2009’s results and a net profit of USD 2.3 million compared with last year’s result which reached USD 870,000.  

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Dana Ciuraru