Friday, January 15, 2021
Home Oil & Gas EBRD helps Greece's Coral Group to expand in Serbia

EBRD helps Greece’s Coral Group to expand in Serbia

A loan of 1.18 billion Serbian dinars (10 million euros equivalent) from the European Bank for Reconstruction and Development (EBRD) will bring premium quality fuels to Serbia as Greece’s leading fuel distributor Coral Group is expanding its activities in the country.

Coral Group distributes petrol, fuel oil, diesel and lubricants through a network of 750 petrol stations in Greece. In Serbia, the company is planning to significantly grow its network, which currently consists of four petrol stations. The EBRD’s loan will help finance this investment programme.

“We are pleased to support an important regional player as it expands in Serbia, bringing high-quality fuel and also competition to the market,” said Zsuzsanna Hargitai, EBRD Regional Director, Western Balkans, and Head of Serbia.

The petrol stations, operating under the Shell brand, will enhance the market offering, with high-quality V-Power fuel that is designed to help clean and protect engines.

“This loan agreement opens a new page of cooperation between Coral and the EBRD, marking a milestone in the growth of our retail network in Serbia,” commented Spyros Balezos, Chief Financial Officer of Coral Group. “We are committed to delivering top-quality Shell fuels and services in the local market.”

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