Terpel puts millions into modernizing gas stations

Terpel, which currently owns 41,6 percent of the market and made 8,69 billion pesos in 2011, will issue bonds in March of 2013 to finance the modernization of 832 gas stations over the next five years. The first phase, which just began, will conclude by the end of next year and transform 300 stations.

Executives did not confirm how much the investment will be, but said that the modernization of just one gas station could easily cost one million dollars, so next year alone may be an investment of about 300 million dollars.

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