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The Gujarat Region of Indian Oil Corporation Ltd (IOCL) has entered into an agreement with Vadodara-based quick service restaurant chain, Neopolitan Pizza Ltd for setting up pizza outlets at IOCL's retail outlets along highways in Gujarat.
As per the terms of agreement, IOCL will grant permission to Neopolitan Pizza, listed on the NSE-SME Emerge Platform, to set up the pizza outlets at select retail locations to be managed by the later.
"This will boost footfalls for both, restaurant and petrol pumps. The concept isn't new, but the brand Neopolitan being new and growing, we decided to join with them," said Sanjeev Kakkad, DGM - retail space, IOCL - Gujarat.
A memorandum of understanding (MoU) was signed on Friday in Ahmedabad. The move by IOCL is seen in line with the Gujarat government's new tourism policy which encourages roadside restaurants and refreshments for the commuters on the highways.
Also, association with Neopolitan will help IOCL expand its presence on highways and provide various facilities to its customers.
Listed on the NSE-SME platform, Neopolitan Pizza has 26 outlets spread across Gujarat and outside. "Ideally, we will look for similar outlets at every 150 kilometers of distance on highways. There we will provide facilities such as dormitory, open bath space, cooking space, which are the typical requirement of truck drivers. This tie-up is being done for the first time in Gujarat," said Kakkad.
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