The company MOL announced on Thursday plans to invest some 40 mln euros in Romania within 2005-2007, following other investments of 20 mln euros up to this moment. This year, MOL will extend its network with new six gas stations, to be build in Greenfield system, that amount to 8 mln Euros.

The group intends to invest in modernization of all gas stations and leave competition behind in terms of the related services, in particular those regarding the sale of products within the gas stations and car washing," said Gyorgy Mosonyi, general manager of MOL Group, at the Management Board convened at Budapest on April 27.

On this occasion the group boasted profitable results recorded in 2003-2005, especially on Refinery and Marketing sectors, that will allow the company to double the dividends value, totally amounting to approx. 11 mln Euros.

MOL Romania has been active in Romania since 1995, opening 100 gas stations. MOL Romania, together with Slovnaft from Slovakia, and INA, from Croatia, the Group boasts a network of 1000 gas stations in 11 countries in the region.