After Shell and Exxon withdrew from the Central American Market, companies Texaco, Unopetrol and Puma dominate fuel imports, storage, distribution and part of its commercialization in Honduras.
Sarahí Silva, head of the Honduran Association of Petrol Derivatives (Ahdippe), argued that such market concentration is prejudicial for the country and its consumers, and stressed the need for more players.
The company will invest in remodeling and building gas stations as well as improving their storage facilities.
Carlos Reyes, manager of the company, said the investment is projected for the next ten years.
"The response from Reyes arose as a consequence of comments made by a spokesman of a retail fuel distributors association which said Tuesday that Texaco and Esso were selling their shares in order to leave Central America due to increased market share by Albapetróleos and China´s intention of building a refinery in Costa Rica to serve the entire region," writes Daniel Choto in Elsalvador.com.
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The Central American Business Council is a London-based organisation which is working to increase significantly the current levels of trade and investment between the UK and Central America.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Central America and Dominican Republic
Phone: (0044) 207 583 8739