Shell begins $1bn retail investment charge into Mexico

As Donald Trump plans his massive border wall, Royal Dutch Shell unveiled plans to invest $1bn in a retail-based expansion in Mexico, the fifth biggest consumer of gasoline in the world, after the company opened its first service station in the country this week.

The oil giant announced on Wednesday that more sites were due to start providing Mexican motorists with Shell fuels and retail services over the next few months.

Shell said that it planned to plough approximately $1bn in Mexico over the next 10 years if market conditions continued to develop at their current rates, with investment in the retail network, fuel logistics infrastructure and new partnerships to deliver world-class products and services to Mexican consumers and businesses

Shell seeks to expand its investment in other “high” growth markets such as India, China, Brazil and Indonesia over the next decade.

“This is a major milestone for Shell and shows our ongoing commitment to Mexico. As the fifth-biggest consumer of gasoline in the world, it is an important and growing market,” said István Kapitány, executive vice president of retail.

“We have been present in Mexico for more than 60 years, but this is our first opportunity to improve Mexican motorists’ journeys through our unique retail experience.”

Shell has 43,000 retail stations across around 80 countries to make it the self-proclaimed largest petrol retailer in the world.

 

By: Ikaba Koyi digitallook.com

September 06 2017