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Business Times (Malaysia): Shell gets govt nod to buy ProJET assets

July 27 2007

ROYAL Dutch Shell said it has recently received government approval for the acquisition of the ProJET retail marketing assets comprising 44 service stations and 14 vacant land sites.

The 44 ProJET stations will be rebranded progressively to Shell stations over the next three months, Shell said in a statement.

“However, from today, as part of the transition from ProJET to Shell, all existing ProJET retail sites will begin to carry Shell fuels, even as rebranding work is under way,” said Datuk Mohzani Wahab, managing director of Shell Malaysia Trading Sdn Bhd and Shell Timur Sdn Bhd.

“We want customers at these sites to be able to immediately experience the full benefit of using Shell Super with its fuel economy formula,” he said.

Apart from the acquisition of the ProJET retail stations, Shell is looking to add another 30 new stations by year-end.

“We expect to close 2007 with about 900 Shell retail sites, offering our customers quality fuels and services at convenient locations throughout Malaysia,” Mohzani said.

According to Shell, the decision to grow its retail business in Malaysia is a demonstration of the group’s commitment to invest in fast-growing eastern markets, in line with the company’s strategy of more upstream and profitable downstream activities.

Shell has about 46,000 retail stations in more than 90 countries with Malaysia being a key growth market. — Bernama

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