The Hindu Business Line : Reliance to set up 2,500 retail outlets

RELIANCE Industries Ltd (RIL) will put up 2,500 petroleum retail outlets by April 2004. The entire retail network will be up by end of 2005, Mr Mukesh Ambani, Chairman, Reliance Industries Ltd, said here on Wednesday.

"In the first phase we shall set up 2,500 petrol pumps across India by April 2004 and the entire network will be ready by 2005," Mr Ambani told reporters on sidelines of Chemtech World Expo 2003 conference here. The company has been given permission to set up 5,800 outlets for retailing petroleum products across the country. He said the work would be completed in phases and the retail outlet would be set up across the country simultaneously.

The company will also announce details of a hydrocarbon find on the western coast of India at an "appropriate time".

Mr Ambani confirmed that the company's find in the Cambay basin on the western offshore by saying that Reliance would make an announcement on the find.

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