Financial Daily from THE HINDU group of publications
Saturday, May 25, 2002
Financial Daily from THE HINDU group of publications Saturday, May 25, 2002 |
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Petroleum Government - Policy Industry & Economy - Petroleum Reliance, 3 others allowed to sell petrol, diesel Our Bureau
NEW DELHI, May 24 THE Government has granted approval to Reliance Industries Ltd (RIL), Numaligarh Refineries Ltd (NRL), Oil and Natural Gas Corporation (ONGC) and Essar Oil Ltd (EOL) for marketing petrol and diesel. Addressing a press conference on Friday, the Petroleum Minister, Mr Ram Naik, said that these companies would set up 8,659 retail outlets. Of this, 923 outlets will be set up in remote or low-service areas. There are currently 18,401 retail outlets in the country, with the public sector undertakings in the process of setting up 2,900 new ones. While RIL plans to set up 5,849 outlets, Essar Oil plans to set up 1,700 retail outlets, ONGC 600 outlets and NRL 510 outlets. The approvals have been granted on the basis of the applicants meeting the eligibility criteria of an existing investment of Rs 2,000 crore in the sector.
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