Indian Oil Corporation will complete
the merger of IBP's petroleum retail business with itself beginning 1 August
2007.
IOC is also planning an investment of
around Rs.150-200 crore in automating IBP outlets. Post merger, IOC will control
over 16,455 outlets in the country. This will include over 3,500 IBP outlets
which will henceforth display both the brands of IOC and IBP.
While the 30 IBP divisional offices
across the country are already closed down, IOC is opening 16 additional
divisional offices in new locations over and above the existing 49.