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03-10-2012, 09:29 AM #1
Essar Oil in pact with IGL for NCR CNG retailing
Essar Oil (EOL) on Friday entered into an agreement with compressed natural gas (CNG) supplier Indraprastha Gas Ltd (IGL) for erecting pumping facilities at EOL outlets in the national capital region (NCR).
"With this agreement IGL customers driving into our petrol stations in the NCR can now look forward to multi-fuel options," said S. Thangapandian, chief executive, marketing, Essar Oil.
Currently, the company has CNG facilities at 12 of its retail outlets in Gujarat and plans to add another 30 such facilities across its network.
The company said it is adding multi-fuel options for its customers and has tie-ups with Gujarat State Petroleum Corporation, Mahanagar Gas, GAIL, Sabarmati Gas, Adani Gas and Gujarat Gas Corporation for selling CNG sourced from these companies at its franchise-owned and operated outlets.
According to the company, it is also increasing non-fuel retailing activities at its outlets to provide additional revenue sources for its franchises.
"Over the past few years, we have been working with our franchisees to ensure they have additional revenue sources from alternative fuels as well as non-fuel retail products," Thangapandian said.
The company has already forged alliances with non-fuel retailers in segments like lubricants, food and beverages, agro products, telecom and banking.
The private sector oil retailer has over 1,400 outlets in its network in the country.