His Excellency the Gov. Ric Todd made that announcement Sept. 19 after meeting with Rubis representatives to talk about their recent acquisition of fuel terminals and service stations in the TCI.

Since coming to the country in the spring of 2012, the company has invested approximately $20 million in oil and fuel distribution infrastructure on both Providenciales and Grand Turk, the governor said.

The company has plans to build up its business here, rebranding Texaco stations and investing $70,000 per station to upgrade them to Rubis standards. It also is looking into alternative, cost-effective ways to bring fuel into the country.

“When a company like Rubis comes, puts in money, makes a commitment to the islands, that is partly jobs, it is prosperity, but also it’s an important vote of confidence in how the economy is going and the prospects which this country has, and those prospects are, I think, pretty good,” Todd said.

A Rubis press statement says its recent acquisitions are expected to boost its operations in the West Indies by almost 75 percent.

“After the French Antilles and French Guyana in 2005, Bermuda in 2006 and the West Indies in 2011, this latest Rubis acquisition in the Caribbean establishes its leadership position as the independent petroleum products distributor in the Caribbean,” according to Rubis.