French oil group Total plans to invest US$50 million in Mozambique to achieve a 30% share of the service station market by the end of 2017, said the group’s managing director for Mozambique.

The group, which on Thursday opened a service station in the suburb of Magoanine in Maputo, aims to have 60 stations by the end of 2017, compared to the current 43, said Joseph Kouamé, quoted by Mozambican news agency AIM.

Kouamé said the portfolio of projects in the fuel distribution sector in Mozambique is quite ambitious and gave assurances that the group intends to consolidate its presence in the Mozambican market.

According to information on Total Moçambique’s website the company has service stations throughout the country, and more than half are concentrated in the Maputo and Matola region.

Source: Macauhub