IOCL to open retail outlets in petrol pumps

Mumbai, Apr 14 (UNI) Indian Oil Corporation Limited (IOCL) will open retail outlets in all its 16,500 petrol stations across the country soon.

Speaking to reporters informally here today, IOCL director (marketing) G C Daga said, ''Through these retail outlets, we will be targetting our exsisting four crore customers.'' At present, the IOCL sells few retail items like gas pipes, and green gas stoves through its petrol stations which has fetched the company Rs 160 crore in the current year.

''In the situation of ever-increasing cost of fuel, retailing has become the need of the hour to maintain profit margins,'' Mr Daga said.

The company is also planning to tie up with retail majors in the country for cross promotion of retail products.

UNI