Petrogress, Inc. Announces the Leasing of Two Gas Stations in Southern Greece (Sparta), Which Expands Its European Distribution Operations
Petrogress, Inc. (OTC:PGAS) announces that its Petrogress Int’l, LLC (“PIL”) wholly-owned subsidiary has concluded the leasing of two gas stations, along with associated storage and distribution operations, which will be renovated and managed in Southern Greece (Sparta). The gas stations are located on a major national highway between Sparta city and Gythio port -the ships cruise port. With the available land of 5,000 sqm of each gas station, PIL intends to build and provide “rest area,” full-service stations with restaurants, and mini markets under the trademark PG OIL.
The leasing of the Gas Stations expands our European distribution operations. We believe this will enhance revenue opportunities and strengthen our competitive position with direct distribution of petrochemical and lubricant products.
The lease of the gas stations is an excellent opportunity for Petrogress to expand its operations into and serve the Southern Greece market. We expect considerable demand due to the high number of visitors and travelers during the whole annual season.
“This new opportunity demonstrates our commitment to establish Petrogress as a strong, integrated oil company by providing upstream, midstream, downstream services by adding direct retail sales into European region. The combined facilities, capabilities, and assets of our group of companies are expected to enhance our revenues and position us as a significant participant in this lucrative regional market” stated Petrogress Chief Executive Officer, Christos P. Traios.
PIL is initially expected to operate and manage the two gas stations while supplying them with petrochemical products. PIL intends to complete renovations of the gas stations within the next 90 days, after which the stations are expected to be opened.
PIL plans to create a chain of Gas Stations in Southern Europe, including Cyprus and other East Mediterranean countries under PG Oil brand.
Petrogress, Inc. www.petrogressInc.com
