IOC to invest Rs 1800 cr in marketing operations

Kolkata, Apr 12 (UNI) Indian Oil will invest Rs 1800 crore for various marketing activities, including retail, infrastructure, aviation and LPG.

A company release here today, quoting IOC Director (Marketing) G C Daga, as saying the company had invested Rs 1225 crore in marketing in the fiscal ended in 2006-07 which had been substantially raised this year. The company has recorded a sales growth of 5.7 per cent during 2006-07.

He said,''The real challange before the company is to maintain growth and we continued to push the envelope in all the primary sectors like aviation, lubes, retail, LPG etc.'' Currently, the company has a total over 12,954 retail outlets of which about 1330 are KSKs. For the year 2007-08, IOC proposes to commission 1600 new reatil outlets of which Kisan Seva Kendras alone would be 1000.

In Mauritius and Sri Lanka, IOC subsidiaries, enjoyed a marketshare of 16 per cent.

UNI