ONGC along with its subsidy
Mangalore Refinery & Petrochemicals (MRPL) decided to go ahead with its
retail venture as the retail margin of petrol and diesel turning positive.
The two companies plan to set up 30
retail outlets by 2007-08. ONGC has already acquired land necessary for setting
up the outlets. Most of the outlets are under MRPL's brand , while some will be
owned by ONGC. The outlets are planned mainly in southern locations in
Karnataka, Andhra Pradesh and Tamil Nadu.
MRPL has plans to hike its refining
capacity to 15 million tpa, from the existing level of 9.5
million tpa. However, the company has decided to put its greenfield expansion plan on
hold.RPL commissioned a new isomerisation unit in its Mangalore plant with an
investment of Rs.234 core.