Texaco will Keep Assets in El Salvador
The multinational claims to have a long-term plan for investments in the country.
Tuesday, November 23, 2010
Carlos Reyes, general manager of Texaco in El Salvador, told La Prensa Gráfica, "It is true that we are going to leave the service station business, our strategy is to make the sale of fuel a profitable business for both Texaco and for Salvadoran entrepreneurs working with us.”
The company plans to open 80 new service stations in an attempt to consolidate themselves as the second largest in the Guatemalan market.
The company’s plans include investing $2 million in building 4 new gas stations.
The investment, worth almost $2 million, will enable the fuel importer to open new stations by the end of 2010.
The multinational Puma Energy is passing on administration of service stations operations to Nicaraguan entrepreneurs.
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