Mexico (Notimex) - Mexican gas station firm Fullgas will invest $70 million to open 360 filling stations in Mexico over the next three years.
The company is also eyeing expansion to other markets in the region, such as Guatemala and Colombia.
Fullgas will seek small enterprises for their franchises, in locations where large companies are uninterested, said the company's operations director, Jesús Montoya.
The licence price for the franchises will be 25,000 pesos per year, compared with the 500,000 pesos a year for other companies.
"Pemex forgot about the small enterprises who own one or two stations. Big companies are after premium locations and not the ones that account for 70 or 80 percent of the market," he added.
The first Fullgas station opened in Chetumal, in the Caribbean coast state of Quintana Roo.
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