Four Retail Gas Stations ; China Bio Energy Holding Group

China Bio Energy Holding Group, an energy company engaged in the distribution of heavy oil and finished oil products and the production and distribution of bio-diesel fuel, today announced that it has added four retail gas stations to its operations. China Bio Energy now operates five retail gas stations. These acquisitions are part of China Bio Energy's strategy to leverage and strengthen its distribution network by expanding into the retail distribution of fuel.

The stations, previously operated by the Shaanxi Highway Service Company and equipped to sell gasoline and diesel fuel, are all located along major highways in Shaanxi Province. CBEH will operate the stations under long-term leases for which the initial duration is 15 years. The Company expects that annual revenue per station will average at least $8 million and anticipates net margins of 10% or more. read more

source : http://biz.yahoo.com/