According to the industry publication, Eko Elda started operating in Bulgaria’s fuel retail segment in 2003 and, as a result of BGN120 million investments since this period, increased its market share to 1.5% in 2005 and to 3.5% at present.
PetrolPlaza cited Eko Elda’s executive director Yannis Polikandriotis as saying that the company plans to increase its current 44-strong fuel retail network in Bulgaria to 100 filling stations in the near future.
The company recently opened a new station in Burgas as part of this aim and, according to PetrolPlaza, plans to open another 20 fuel stations by the end of 2007.
Eko Elda forged an agreement with Eko Petroleum, a fellow fuel retailer in Bulgaria, to lease a number of the company’s petrol stations for 14 years, with an acquisition option. This gave Hellenic Petroleum a market share that placed it as the fifth largest fuel retailer in Bulgaria, PetrolPlaza said.
