Financial Daily from THE HINDU group of publications
Saturday, Aug 13, 2005
Financial Daily from THE HINDU group of publications Saturday, Aug 13, 2005 |
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Corporate
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Announcements Marketing - Retailing MRPL to roll out branded retail outlets Pratim Ranjan Bose
Kolkata. Aug. 12 AFTER ONGC its now the turn of group subsidiary Mangalore Refinery and Petrochemicals Ltd (MRPL) to roll out branded petroleum retail outlets. According to sources, 10 to 15 such outlets will be launched in Karnataka this year. The National Institute of Design (NID) is working on the brand. NID had previously created the OvaL RelaxTop brand for ONGC outlets, the first such outlet being set up in Mangalore in March this year. ONGC holds close to 1,100 retail outlet licences. Apart from rolling out its own branded outlets, MRPL has also proposed setting up over 20 co-branded outlets through a 50:50 joint venture with Ashok Leyland Project Services Ltd. The outlets will serve as integrated service stations for Ashok Leyland vehicles cum petrol pump and other associated services. Having struck the deal with Ashok Leyland in March, MRPL has recently submitted a proposal to form a joint venture to the Union Ministry for Petroleum. The latter is expected to forward it to the appropriate cabinet committee for approval. The capital structure and other details of the joint venture will be worked out after receiving the approval of the Centre. As regards MRPL's own retail outlets, the sources said that the majority of the existing 500 licences held by the company would be utilised only through this route. The sources added that to avoid a clash of interest with ONGC outlets, the group has planned to position MRPL lower in the retail value chain. OvaL RelaxTop and MRPL outlets will cater the entire range of customers in Karnataka and its adjoining States.
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