Taiwan’s state-run oil company to open gas stations in China

State-owned CPC Corp. Taiwan is planning to open 200 gas stations in China’s Fujian Province by 2014.
The company plans to enter the Fujian market through a joint venture with China National Petroleum Corp. (CNPC), in which it will hold a 49% stake and sell fuel using a “dual brand strategy,” said Li Chih, a CPC Corp. marketing executive.
China plans to add 1,500 gas stations in the province as part of its 12th five-year plan, which could help CPC Corp. extend its presence to Fuzhou, Xiamen, Zhangzhou and other cities, Li said.
The project still needs to be approved by Taiwan’s Ministry of Economic Affairs.
CPC Corp. estimates the cost of building one gas station in the province at NT$20 million (US$666,999).
(August 6, 2013)