Financial Daily from THE HINDU group of publications
Saturday, Feb 21, 2004
Financial Daily from THE HINDU group of publications Saturday, Feb 21, 2004 |
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Corporate
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Outlook Marketing - Retailing IOC to expand reach in Karnataka Our Bureau,
Bangalore , Feb. 20 INDIAN Oil Corporation (IOC) plans to expand its operations in Karnataka by opening more retail outlets, increasing tankage capacities and revamping oil terminals. Dr N.G. Kannan, Director (Marketing) told newspersons that the company has advertised for 150 locations for appointment of new dealerships. He said the entire Mangalore oil terminal would be revamped at a total cost of around Rs 3 crore. He said IOC is planning to set up a 12,000-kilolitre (KL) depot at Karwar to help the Sea Bird project for the Indian Navy to store high flash high-speed diesel. He said a new depot at a cost of around Rs 25 crore for storage and supply of petrol, diesel and kerosene has been built in Gulbarga. The depot has a tankage capacity of 604 KL for petrol, 1,707 KL for kerosene and 6,600 KL for diesel. IOC has also a drawn up a plan to increase the tankage capacity for storage of petrol of up to 10,000 KL at a terminal for pipeline transfer from Mangalore to Bangalore. He said under the new marketing expansion plans, IOC has advertised for 106 new locations. It recently built a new bottling plant at Shimoga at a cost of around Rs 28 crore with a 44 thousand tonnes per annum installed capacity. This plant would feed Shimoga, Chitradurga, Davangere and Mangalore. The plant is designed to refill 11,000 cylinders per day. IOC has a 44 per cent market share in the sale of LPG in Karnataka and has 202 distributors. It is also adding an auto LPG dispensing station in Bangalore. It already has four such centres in Bangalore, which sell a total of around 100 tonnes per month of LPG. IOC has 505 retail outlets with a 40 per cent market share in the State.
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