Indian Oil Corporation is planning to improve its retail marketing infrastructure across the country with an investment of Rs.2,000 crore by March 2007.

The investment will involve the creation of 1,000 fully automated retail outlets, 200 auto LPG stations and conversion of petrol pumps into branded retail outlets. IOC has also set a target of creating 2,000 automated retail outlets by March 2008.

IOC will spend close to Rs.160 crore on these automated outlets in 2006-07 and another Rs.57 crore will be spent on adding some 114 new auto LPG stations to take the total number of such retail outlets to 200. To boost its retail infrastructure in West Bengal, IOC has decided to spend Rs.120 crore in 2006, with some Rs.40 crore being spent on adding 20 new retail outlets and 40 Kisan Seva Kendras in rural areas. Another Rs.11 crore is being spent on a new LPG bottling plant at Haldia.

IOC has earmarked a spend of Rs.3,000 crore in West Benga by 2009. The bulk of the investment, currently under way, is being made on capacity expansion of IOC’s existing refinery at Haldia, from 6 million tpa to 7.5 million tpa, adding a hydrocracker unit to produce value-added products like Euro IV motor spirit and in setting up a pipeline to transport crude from Paradip to Haldia refinery.

Also See:

IOC to invest Rs.12,000 crore to upgrade refineries (23-Dec-06)