Rural Andhra gets 50 more low-cost retail outlets by Indian Oil Corporation

IOC to add 50 low-cost retail outlets in rural AP



New venture: The Indian Oil Director (Finance), Mr S.V. Narasimhan and Executive Directors, Mr N. Srikumar and Mr D. Ramaswamy at a press conference held at Ravi Rays retail outlet at Vadlapudi in Visakhapatnam on Tuesday. —

Visakhapatnam, Aug. 10::::Indian Oil Corporation (IOC) will set up 50 more low-cost retail outlets in the rural areas of Andhra Pradesh during the current year under the Kisan Seva Kendra scheme, according to Mr S.V. Narasimhan, Director (Finance). He was talking to reporters at Vadlapudi near hereon Tuesday after participating in a function to distribute merit awards to children of IOC customers at a retail outlet. He said Rs 10 lakh -20 lakh would be needed to set up such rural retail outlets and at present there were 2,800 such outlets in the country - 200 of them in Andhra Pradesh.Seed, fertilisers and groceries would also be sold in such outlets, he added.

Mr N. Sriram Kumar, Executive Director (AP operations), said a new terminal was being set up at Chittoor in the State at a cost of Rs 120 crore. Once the environmental clearance was obtained, the project would be completed within 18-24 months. It would add to the capacity of IOC in the State.He said IOC plans to set up 15-18 urban outlets in the State. A tie-up with Bhagyanagar Gas was also being considered for CNG supply, he added. Under the Rajiv Gandhi LPG scheme, 32-40 more distributors would be appointed in the State.At present, Mr Kumar said the company was having five LPG bottling plants in the State, with a total capacity of 2.50 lakh tonnes per annum. They were working overtime and bottling 3.5 lakh tonnes. Another bottling plant was being considered either in Prakasam or Nellore district.Mr Sukhdev, the dealer, also spoke.

http://www.thehindubusinessline.com/2010/08/11/stories/2010081151292100.htm