IOC earmarks Rs 2370 crore for marketing

Chennai, Jun 15 (UNI) Indian Oil Corporation (IOC) has earmarked a sum of Rs 2370 crore for marketing and drawn up plans to set up Auto LPG dispensing stations and promote ethanol-blended petrol in a big way, Mr N G Kannan, Director, Marketing, IOC said today.

Talking to newspersons here, he said during 2006-07, the public sector IOC proposed to open about 500 new retail outlets throughout the country and modernise and furnish existing retail outlets, involving an investment of Rs 1,100 crore.

For Tamil Nadu, Rs 203 crore had been allotted, of which Rs 100 crore would be spent on opening retail outlets, he said, adding, the company proposed to open 25 to 30 regular retail outlets and 85 Kisan Sevak Kendras (KSK) to tap the rural market.

Mr Kannan said during last year, IOC had opened a record 1547 retail outlets in the country, which was the highest number to be opened in a single year. Out of this, 557 outlets were commissioned in rural areas as Kisan Sevan Kendras (KSK), he said.

During the last three years, IOC opened over 3,300 retail outlets, which was higher than the number opened in the last 23 years.

To promote use of LPG in the automobile sector, IOC would open 200 LPG dispensing stations during 2006-07. So far, the company had opened 80 stations, of which 33 were located in the south, he added.

The company, which was fucusing on metro outlets, would in future turn its attention on the highways to open LPG stations, he added.

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