PKN Orlen, Poland’s biggest fuel company, got EUR 210m of credit from the European Investment Bank. The company will develop and modernize its gas stations. The whole project is worth EUR 430m. The remaining funds will come from PKN Orlen’s own sources.
“The credit will be spent to increase ecological standards of our gas stations. The funds will be spent in upcoming years”, Dawid Piekarz, PKN Orlen spokesman said.
Fuel tanks on the gas stations will be modernized this year.
“80 stations are being modernized”, William Kozik, PKN Orlen executive director for retail sales said.
The company wants also to unify its shops network, develop cheaper gas stations Bliska (today there are 200 of them) and develop its franchise network.
All these steps are aimed to regain PKN Orlen’s position on the retail market. In 2003, the company had 35.4 percent of the market. A year later, the share fell to 28.6 percent and in 2005 to 27 percent. According to unofficial sources, the company is close to having 29 percent now. Two percentage points mean PLN 800-900m (EUR 211.2-237.6m) more of sales. Till 2009, PKN Orlen wants to have at least 30 percent of the market.
(PLN 1 = EUR 0.264)