Guinea-Bissau: Portugal’s Galp Energia to invest US$ 1.9 million

11 April 2008

Bissau, Guinea-Bissau, 11 April – Galp Energia, which owns 80 percent of Guinea’s Petromar, is investing US$ 1.9 million this year in the West African state.

Galp’s investment is aimed to improve Petromar’s distribution operations in Guinea, namely by modernizing and extending its service station network, buying tankers, generators and IT systems, said Carlos Baião Ferreira, a Galp board member.

Ferreira said Galp, present in Guinea for 50 years, has ongoing investment in the country and is committed to helping the impoverished state improve conditions for its citizens by ensuring uninterrupted fuel supplies.

Guinea, noted Ferreira, has experienced severe shortages of water and power in recent years but Petromar has never stopped providing diesel.

In addition to its US$ 1.2 million investment in Guinea, Galp is also investing in the rehabilitation of former nationalized fuel distributor, Dicol. (macauhub)