Oil PSUs to add 4,500 petrol pumps across Gu­jarat

Business Standard - - COMPANIES - PRESS TRUST OF IN­DIA

Pub­lic sec­tor oil com­pa­nies In­dian Oil, Bharat Petroleum and Hin­dus­tan Petroleum have an am­bi­tious plan to open nearly 4,500 fuel out­lets across Gu­jarat, an of­fi­cial said on Satur­day.

Talk­ing to re­porters, In­dian Oil Chief Re­gional Man­ager Su­nil Vikram­s­ingh said, “To meet the in­creas­ing re­quire­ments of cus­tomers on high­ways, agri­cul­tural sec­tor prod­ucts and in­dus­tries, it was nec­es­sary to open fuel out­lets in the state.”

“IOCL, BPCL and HPCL have an am­bi­tious plan to open nearly 4,500 fuel out­lets in the state,” he said. About three-four out­lets will be opened near the Statue of Unity, he added.

More than three lakh visitors have al­ready vis­ited the site. There­fore, open­ing of three to four fuel out­lets will help the tourists, the of­fi­cial said.

The oil mar­ket­ing com­pa­nies (OMCs) plan to ex­pand in tier-II and tier-III cities, and ru­ral ar­eas as they lack pres­ence in these ge­ogra­phies.

IOCL will set up 128 re­tail out­lets, with BPCL 50 and Hin­dus­tan Petroleum 49 out­lets in Vado­dara.

“All these OMCs are set to ex­pand their fuel re­tail net­work af­ter a gap of nearly four years, which is due to an 8 per cent an­nual growth in sale of petrol and 4 per cent in diesel,” Vikram­s­ingh added.

The OMCs have for­mally an­nounced their plans and the bid­ding process for invit­ing ten­ders has also started, he said, ad­ding each fuel out­let will cost be­tween ~6 mil­lion to ~30 mil­lion, de­pend­ing on their lo­ca­tion.

“The OMCs, for the first time, have come to­gether to work on such a scale to avoid du­pli­ca­tion and eat­ing into each other’s busi­ness,” he added. Re­tail out­lets opened af­ter 2014 were largely through the re­vival of old sta­tions or restora­tion of deal­er­ships that had been ter­mi­nated be­cause of non­per­for­mance since 2005.

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