OREANDA-NEWS. On August 23, 2007 Shell International Petroleum Company Ltd (Shell) and OJSC Alliance Group (Alliance) have completed the establishment of a joint venture to operate a network of approximately 150 Shell-branded retail sites in Ukraine, reported the press-centre of  OJSC Alliance Group.

This is an important milestone reached by Shell and Alliance after they announced their commitment to set up a joint venture in March 2007. The formal approval gained from the governmental authorities became was the final step for the completion of the deal and the establishment of the Jvjoint venture. The JV joint venture officially starts its operations on 21 August.  Shell has operational control with 51% share and Alliance a 49% share in the newly established joint venture.

Start of operations assumes a gradual take over of retail sites under joint venture JV operational control, a process which that will start with immediate effect and is expected to be completed in over a period of two months. All retail sites will be upgraded to meet Shell worldwide operational standards for high operational, safety and environmental protection standards.

This will allow Ukrainian motorists to purchase fuel at Shell-branded sites, joining millions of customers of the world’s largest retail fuel network, who experience the Shell commitment to product quality and high service standards every day at 46,000 Shell-branded retail stations in 90 countries world-wide.In the newly established joint venture Shell has operational control with 51% share and Alliance a 49% share in it.

By purchasing fuel at Shell-branded sites, Ukrainian motorists will join the 20 million customers of the world’s largest retail fuel network, who every day experience the Shell commitment to product quality and high service standards at 46,000 Shell-branded retail stations in 90 countries world-wide.

The newly appointed General Director of the joint venture Christo Ivanchev said: “We are convinced that tThe joint venture will offer customers the benefits of Shell’s global experience, combined with Alliance’s strong local knowledge and extensive presence on the Ukrainian fuel retail market.  It will give us a considerable advantage enabling to better respond to in responding to customer needs and offering product quality and high service standards.  We count on the professionalism of our staff to, which will  help us to deliver on our value promise to customers and to make a difference. The new JV will offer customers the benefits of Shell’s global experience, combined with Alliance’s strong local knowledge and extensive presence on I’m looking forward to a successful development of newly established JV ”.