Mangalore Refinery and Petrochemicals (MRPL), the wholly-owned subsidiary of state-run Oil and Natural Gas Corporation (ONGC), will launch more fuel retail outlets.
The company will open outlets in a phased manner as part of its retail expansion strategy. In Phase-I, it will open 120 fuel retail outlets in Karnataka for which it already has a blueprint. Setting up an outlet costs Mangalore Refinery and Petrochemicals Rs five crore.
It will start establishing outlets as soon as the Central Government deregulates diesel.
MRPL has approval for setting up 500 retail outlets, and its parent company ONGC, has an approval to set up 1,100 retail outlets.
Currently, MRPL has three retail outlets operating under the HiQ brand in Mangalore, Karnataka.