Rompetrol Group to invest $340 mln in 2008

“This is the amount we have scheduled for investments, but it will probably increase,” Patriciu said, quoted by local newswires. He added that some 400 Rompetrol Expres gas stations will be opened this year in rural areas.

Also in 2008, a company owned by Rompetrol Group, pipe producer Palplast Sibiu, is to open a production center in Romania and one abroad. Palplast is expecting some $8.3 mln (€5.6 mln) in turnover this year, 28 percent higher year-on-year.

As concerns Rompetrol Group, Patriciu said its turnover will exceed $10 mln (€6.8 mln) this year. The group’s main company, Petromidia refinery, is to announce is financial results today. According to economic analysts for Business Standard, the refinery operator, Rompetrol Rafinare, could post turnover for 2007 of some $2.19-2.56 bln (€1.5-1.75 bln), some 17 percent higher year-on-year.