December 10 (SeeNews) - Bosnian fuel retailer Nestro Petrol [BANJ:PTRL-R-A] plans to mobilise 15.7 million euro ($17.7 million) in investments in the following five years, local media reported on Friday.
Most of the investments will involve reconstruction and building new filling stations, as well as rebranding of 40 convenience stores and modernisation of equipment and systems, daily Nezavisne Novine reported, quoting Rais Safin, general director of Nestro Petrol.
In 2022 alone, the company plans to build one new filling station, overhaul stations in Banja Luka and Trebinje, rebrand ten stores and continue the modernisation of equipment in its stations, Safin said.
Nestro Petrol expects to book operating revenue of over 210 million marka ($121.1 million/107.4 million euro) in 2021, Safin added. The company generated operating revenue of 170.3 million marka in 2020.
The company operates 86 petrol stations in Bosnia and Herzegovina.
Russian oil and gas company Zarubezhneft, through its subsidiary Neftegazinkor, owns 80% of Nestro Petrol.
($ = 0.8863 euro)