Pumangol Invests more than 12 million dollars to build New assets
The Angolan company that distributes fuel and oil derivatives Pumangol, in partnership with Sonangol, will invest, in the near future, more than US$12 million in the construction of three new filling stations in Luanda and in another province to be announced in brief.
The information was provided by the director of Logistics and responsible for the Aviation and Bitumen segment of the said company, Óscar Sequesseque, on the sidelines of the inauguration ceremony of the company’s 80th fueling station, located on Avenida Comandante Van-Dúnem Loy, by the Secretary of State Jânio Correia Victor.
The official said that the inauguration of the contract represents the beginning of Pumangol’s reappearance, as the company’s management believes in the country and is once again investing more sharply and focusing on new technologies, taking into account the energy transition process that the the world observes gradually, with emphasis on the innovation of the pump system in relation to what constituted the standard, that is, “a top of the range model was introduced, and this station is the first of four that we will install very soon” .
The management of the company and the shareholder Sonangol, according to the economist, aim, in addition to increasing the number of direct jobs, to reduce regional asymmetries in the chapter on the distribution of fuels, lubricants and other products derived from petroleum, so that citizens feel more comfortable and local businesses can see reduced procurement efforts.
Óscar Sequesseque recalled that Pumangol has been operating in the country for 15 years, with one of the most expressive market shares and that it has already helped to reduce asymmetries in access to products, at a time when the company accounts, to date, 80 service stations fuels distributed across the 18 provinces, among other assets of relevant importance in the energy value chain, some of which passed to Sonangol, within the framework of an agreement between the parties.
territorial expansion
Pumangol, advanced the Logistics director, is the only distributor established in the national market, besides Sonangol. “We are pleased to be implanted throughout the country.
However, it is obvious that there are still certain regions whose size and economic strength require us to be cautious in the decision to go ahead with projects for our stations, since they require a high volume in terms of investment, that is, our stations are all built from scratch, with average costs between 3 and 5 million dollars”, he noted.
The official added that one of the premises of any investment is the return on capital, under penalty of running risks that jeopardize the company’s degree of solvency and the interest of the shareholder structure. “It is essential, when investing, to take into account the return on capital and it is based on this principle that the shareholders keep us here to manage the processes”.
