IndianOil to make Rs 2,500-crore capital expenditure for marketing and distribution expansion
at Wednesday, November 17, 2010
IOC to spend Rs 2,500 cr on marketing, distribution
IndianOil has lined up a Rs 2,500-crore capital expenditure (capex) for its marketing and distribution expansion in the current fiscal, a top company official said.
IOC plans to use the funds to step-up its marketing initiatives, scale-up its distribution network by setting up new gas stations and expand its bottling capacity, its Director (Marketing), Mr. G. C. Daga, today said.
The company plans to add about 900 more new outlets in the current fiscal, of which 450 gas stations have already been installed, he said, adding that in this fiscal, the focus would be mainly on expanding rural network.
The Hindu Business Line, Mumbai, November 15, 2010
