IOC to add 1,600 petrol pumps

Indian Oil Corp. (IOC) plans to invest about Rs160 crores (US$39.36 million) in adding 1,600 new petrol stations during the current fiscal year, Minister of State for Petroleum and Natural Gas Dinsha Patel said. “During the last three years, a total number of 3,855 retail outlets were opened by IOC,” he said. The company is modernizing the existing retail outlets by providing a forecourt facility like Electronic Pre-set Pump/Multi Product Dispensers, tanks of adequate capacity, driveway, canopy, lighting, and modern signage. (April 26, 2007)