The Hindu Business Line : Oil PSUs to form JV with Mumbai airport for ATF distribution

MUMBAI: To address security concerns and improve efficiency, the three state-run oil marketing companies have decided to form a joint venture with Mumbai airport for distribution of aviation turbine fuel (ATF) to aircrafts.

Petroleum Secretary Mr R S Pandey held a meeting on Wedenesday in this regard with the top management of Mumbai International Airport Ltd (MIAL) and senior officials from Indian Oil Corp (IOC), Bharat Petroleum (BPCL) and Hindustan Petroleum (HPCL).

“There was a meeting with officials of MIAL and the three oil PSUs yesterday. The MoU (Memorandum of Understanding) to set up a joint venture company will be signed within the next 15 days to one month,” Mr Pandey said on Thursday.

It was suggested that all four joint venture partners be alloted 25 per cent stake each, the Petroleum Secretary said. “It is a tentative proposal (to allot equal stake). An agreement will be finalised in three months, in which all these issues will be a ssessed and finalised,” Mr Pandey said.

He also said that all pending issues like alignment of dispensing points and line duty optimisation among others, which were impeding the modernisation of Mumbai airport, have been resolved. -PTI

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