MRPL’s great plan for a 100 petrol pumps announced

Mangalore Today News Network

Mangaluru, Aug 10, 2015 :   MRPL  Chairman, D.K. Sarraf, along with  the Chairman and Managing Director of Oil and Natural Gas Corporation Ltd. (ONGC), on Aug 9, said that  MRPL has plan  to open 100 more retail outlets in and around Karnataka.

 

Replying to a question from media, he said that a  team is already working on it in terms of policy formulations, infrastructure, and is talking with  other business partners. All actions are taking place and very soon  a formal announcement of rolling out our retail plans will materialise.

Chairman Sarraf said that the MRPL had retail plans approved by its Board. But it could not be rolled out as the market situation changed.  Now  is a good time to roll out the retail plans. Considered that the board is fully convinced that there is need to roll out a retail plan.

He added  that ONGC had decided not to do retail outlet business. The ONGC licences would be used by MRPL. Regulatory approvals  will not be difficulty. Plans for more retail outlets  will follow on the results of  the  early times.  The chairman said that he could not fix any time frame for achieving 100 retail outlets.

The chairman said that the phase-III refinery expansion of MRPL also involved the production of pet coke solid product started last year. Marketing of that product along with sulphur has stabilised. This is will  contribute to the  final results.

He added that MRPL and ONGC Mangalore Petrochemicals Ltd. would be merged. The boards of two companies have approved .