The Hindu Business Line : MRPL plans jt venture in Mauritius for oil terminal

Mangalore Refinery and Petrochemicals Ltd (MRPL), which has term contract with the State Trading Corporation (STC) of Mauritius for supply of 1 MMTPA products for three years, is planning to have a joint venture with STC Mauritius for setting up an oil terminal at Mauritius.

Addressing presspersons here on Friday after the 19th AGM of the company, Mr R. Rajamani, Managing Director of MRPL, said that the capacity would be decided by Mauritius. “They are thinking of larger capacity. It could be in the range of 50,000 to 100,000 KL,” he said.

Asked when the company would formalise the agreement with STC of Mauritius, he said: “Our target to formalise the agreement is three months, hopefully by December. Certain formalities have to be completed, particularly as it is a different country. The DFR is under preparation. But we hope to establish this within three months,” he said.

Exports from MRPL to STC of Mauritius began in August.

ATF supply

He said the company was proposing to supply ATF in Bangalore and Hyderabad International Airports.

It had an agreement with HPCL to use its refuelling infrastructure in Bangalore, Calicut and Goa airports. Supply agreements with airline companies are expected soon. He said that clearance from AAI for mobile refuelling services is expected soon.

Nearly 15 retail outlets under the MRPL brand will be launched by the end of the current financial year in Karnataka, Tamil Nadu and Andhra Pradesh. Two retail outlets will be commissioned in Karnataka by the end of October, he said.

OIL PRICE

To a query, Mr R.S. Sharma, Chairman of MRPL and CMD of ONGC, said that the current level of oil prices was not likely to come down in spite of lack of supply problems.

The situation in oil producing nations such as Nigeria and West Asia were stable. Though this should have helped in reducing global oil prices, it was not happening he said.

More Stories on : Alliances & Joint Ventures | Petroleum

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page