Bangalore: Mangalore Refinery and Petrochemicals Ltd (MRPL) has forayed into the fuel retailing business and plans to enter the aviation turbine fuel (ATF) segment shortly.
The subsidiary of Oil and Natural Gas Corporation opened its first outlet in the country at Maddur in the neighbouring Mandya district on the Bangalore-Mysore highway on 12 January.
MRPL officials said plans are on to have 10-12 such outlets in Karnataka, Andhra Pradesh and Tamil Nadu over the next six months.
MRPL, which clocked a turnover of Rs32,376.80 crores in 2006-07, has government approval to open 500 retail outlets.
“Now there is an under-recovery. We don’t want to go very aggressively,” R Rajamani, managing director of MRPL said.
“Once we start these model outlets...prototypes, then we will approach the government for bonds. And if the consumer prices are raised, then the marketing margins improve. After that we may go very fast. Ultimately, we want to establish our presence here (in India)”.
Rajamani also said that MRPL would foray into the ATF marketing space.
“We are presently talking to two airlines. Hopefully, in one or two months, we will conclude the agreement.
Draft agreements are being exchanged”, he said. “We are going to supply (ATF) in Bangalore International Airport Limited (BIAF) and Hyderabad airport”.