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Italian Gas Company Agip Signs $50 million Contract

July 12, 1995

BUCHAREST, Romania (AP) _ The Italian company Agip on Wednesday signed a contract with Romania worth $50 million to build gas stations throughout the country.

The contract envisages 65 gas stations throughout Romania over the next three years, including 11 in the capital Bucharest.

The contract was signed at Bucharest city hall.

Agip, a subdivision of Italian industrial company Eni, will finance the gas stations and the city will provide the land, city hall spokesman Calin Cristescu said. The city hall annually would net $500,000 from the deal in profits, he said.

The first three stations will be built in the capital in the next few months before construction in the provinces begins, Cristescu said.

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