The Hindu Business Line : ONGC to commission its first retail outlet in Mangalore soon

Speaking to presspersons on the sidelines of the first `ONGC International Kite Festival' at Panambur Beach near here on Sunday, the ONGC Chairman, Mr Subir Raha, said, "We are commissioning our first retail outlet in Mangalore, hopefully in next few weeks. It will be the ONGC brand retail outlet."

Declining to reveal the number of retail outlets to be commissioned in the near future, he said, "I will not discuss numbers as it is a marketing plan. We propose to do it in a calibrated and phased manner."

To a query on the ONGC's overseas plans, he said the company is perusing various options in this regard, and hoped that the company will be able to share good news with people in this regard.

He said the company is investing in de-bottlenecking of Mangalore Refinery and Petrochemicals Ltd (MRPL).

MRPL is the first Indian refinery to produce Euro III diesel, he claimed.

Terming MRPL as the most energy-efficient refinery in India, he said it is performing consistently above the rated capacity.

Quarterly results of MRPL will be declared on Monday, he said.

Coastal SEZ: Asked whether the company will go it alone in the coastal special economic zone (SEZ) in Mangalore or the project will be taken up with participation from other oil PSUs as told by the Union Petroleum Minister, he said, "It is something under consideration, and I will not like to comment on it at this point of time. But investment-wise action in consultancy has been initiated by us."

On the status of SEZ, he said that progress is being made in this regard, and SEZ notification is to be issued now.

He said the company has initiated consultancy to prepare the feasibility report for the proposed industrial complex for the cracker unit.

"We will be going ahead with that," he added.

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