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Petrol firm eyes new sites with bank funds

petrol

Morpeth-based petrol station operator Khizer Ltd has secured £560,000 in funding from Santander Corporate & Commercial in order to finance expansion plans which include the purchase of a third petrol retail unit. The family owned business currently runs two successful petrol stations in Nedderton, Northumberland and Moor Lane, South Shields, but it hopes to eventually grow its portfolio of sites to a minimum of five across the North East over the next two years. The latest acquisition is a unit in Wallsend, creating five new jobs, with possibly more to follow. Mark Dolphin, Relationship Director, Santander Corporate & Commercial, said 'Khizer Ltd has plans to expand and out compete in its chosen sector. It is a great local success story and we are delighted to be able to support its growth. We have been impressed by the business plan and strategy from the management, and are confident the business will meet its aspirations.'

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

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