Pertamina to build 125 new gasoline stations
Monday, November 21 2016 - 06:32 AM WIB
PT Pertamina Retail, a subsidiary of state-owned oil and gas firm PT Pertamina, plans to have 125 additional gasoline stations, which are company owned and company operated (COCO), next year as part of expansion to reach 1,000 units of COCO retail stations by 2020.
President Director of Pertamina Retail, Toharso said on Monday that the company will invest around Rp 1.13 trillion for the new gasoline stations next year.
He said that having a total of 1,000 gasoline station units, will represent 20 percent of the around 5,000 gasoline stations operating in the country. He said that this is an ideal ratio for Pertamina.
Toharso said that as per August 2016, the company owns and operates 136 retail gasoline stations across the country. The expansion next year in the number of gasoline stations will be carried out via acquisition, joint operating operation with other parties, and ?grass root? option, or building new stations from scratch at land owned by the company.
Elsewhere, Toharso said that during the period of 2008-2015, revenue of Pertamina Retail has grown by an average of 25 percent per year. ?In 2016, we?re optimistic revenue of PT Pertamina Retail will reach more than Rp 14 trillion. As per August, revenue reached 6.9 trillion,? he said.
He said that during the past eight years, net profit has grown by an average of 44 percent per year. The company has set a net profit target of 172 billion this year, up from 108.7 billion last year. As per August, net profit has reached 108.5 billion.
Editing by Reiner Simanjuntak