Algeria: Petroser Acquires Funding Partner for Investment
|
|
|
|
Monday, 13 October 2008 |
|
Swicorp, a diversified financial services firm operating through
extensive offices across the Middle East & North Africa, has
announced a new partnership with Petroser, the leading privately held
distributor of fuel and related products in Algeria.
Under the terms of the partnership, Intaj Capital, Swicorp's US$250
million private equity vehicle focusing on sectors driven by growth in
consumer demand in the MENA region, has provided funding to allow
Petroser to expand into two new lines of business.
Since its inception in 1999, Petroser has developed into the leading
privately held distributor of fuel and related products, with a network
of petrol stations, an extensive storage and logistics platform, and an
exclusive licensing agreement with global energy group BP Plc, under
which Petroser distributes BP lubricants throughout Algeria.
Looking ahead, Petroser's ambitious plans include an investment in a
new lubricant blending facility to manufacture lubricants under BP
license and an investment in a new bitumen storage and blending unit to
manufacture bitumen derivatives.
PetrolWorld 12108
|
