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Rompetrol to invest into a new petrochemical unit in Romania

19 March 2017

The investment plan of KMG International (Rompetrol group) includes the opening of a new petrochemical unit, sayd the vicepresident of Rompetrol Cătălin Dumitru.

“Given that the global commercial and financial results were very good this year, we dare to attack 2017 with quite developed plans in terms of investment, both in the refining sector and in the retail sector.

On the one hand we continue our process of modernization of refineries in Romania. We will open a new production unit in the petrochemical area. We’re talking about the unity of ‘high density polyethylene’”, he said Dumitru was quoted by the media in Kazakhstan and

In the retail sector, the group will continue on the one hand with the rebranding process, the image enhancement, both in terms of interior re-branding and exterior re-branding. At the same time, the group will expand its distribution network both in Romania and in the neighboring countries: the Republic of Moldova and Bulgaria, but also in Georgia.

“We also have investment projects in the area of logistics, because we are talking about refineries, we are talking about the distribution network. Obviously there must be a vehicle to link the two, and here we are talking about our Supply & Trading division, the area of logistics and important projects and we have plans to improve our logistics platform. Especially in the Black Sea region and within the countries that we mentioned. Here we speak about the modernization of the infrastructure, and also about new developments. I am referring primarily to the storage capacity”, said Dumitru.

“In Western Europe, where we have two strong branches in France and Spain, together with our strategic partner China Energy Financial Company (CEFC), we have plans for the expansion of the distribution network both through own investments and through acquisitions of networks, this year especially in Spain”.

KMG has improved its operational and financial results last year. The group recorded an operating profit of 239 million dollars and a net profit of 88 million dollars, whilst it increased the quantities of crude oil processed at Petromidia, the main asset of the group, and that generated an increase in the sales of fuels.

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