IOC, Ansal sign Memorandum of Cooperation

Kolkata, Dec 16: Indian Oil Corporation and Ansals Group, a leading real estate developer in the country, have signed a Memorandum of Cooperation (MoC) for setting up petrol stations in the select projects.

The MoC was signed by Executive Director(Retail Sales) of Indian Oil A M K Sinha and Ansals President(Marketing) Kunal Banerji.

Mr Sinha today said with automated facilities, truck tracking, loyalty cards, branded fuels and separate retail formats for urban, highway and rural segments, we continue to set the standards in the petroleum retail business in the country.'' ''Our pact with the Ansals is a step in this in this direction.

Indian Oil is glad to enter into a collaboration with the Ansals Group for setting up retail outlets in select projects promoted by them, ''IOC Director(Marketing) G C Daga said.

Ansal API Ltd is a major real estate developer in the country with a yearly turnover of around Rs 375 Crores (FY 2005-06). Its multiple projects in hand exceed Rs3200 crores and span the whole gamut of construction activity--Housing, Townships, Commercial Complexes, Hotels, Entertainment and Educational Institutions etc.

UNI