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Our Bureau

Mangalore, Feb. 5 Mangalore Refinery and Petrochemicals Ltd (MRPL) on Tuesday signed the joint venture shareholders agreement with Shell. The agreement will be effective from March 1.A company release said here that the joint venture company would be incorporated as a private limited company, with initial equity of Rs 30 crore. The registered office and head office of the company would be in Bangalore. The joint venture will be exclusive in nature and both MRPL and Shell will route all their future marketing activities for aviation fuelling service through the company.

The venture will initially commence marketing of ATF at Bangalore and Hyderabad, and later expand its operations to other airports in India. The joint venture will refuel foreign aircraft in Indian airports and will also contract refuelling of Indian aircraft at foreign airports through Shell affiliates.

The release said that the agreement was signed by the Managing Director of MRPL, Mr R. Rajamani, and the Vice-President of Shell Aviation, Mr Sjoerd Post, in the presence of the Chairman of the ONGC group of companies, Mr R.S. Sharma, and the Chairman of Shell Group of companies in India, Mr Vikram S. Mehta.

More Stories on : Alliances & Joint Ventures | Petroleum

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