Mangalore Refinery and Petrochemicals Ltd (MRPL), planning to open 100 retail outlets in the first phase. However, the company has not put any timeframe on this.
Addressing presspersons in Mangaluru on Sunday, Saraff, said the board had approved the retail plans a couple of years ago. Stating that around 100 retail outlets would be set up in and around Karnataka, he said the MRPL team is already working on that in terms of various policy formulations, infrastructure, and talking to other business partners.
Saraff, who is also the chairman of ONGC, said that the licences of ONGC for setting up retail outlets will also be used by MRPL. ONGC has decided not to venture into the business of setting up retail outlets. ONGC has licences to open 1,100 retail outlets and MRPL has licences for 500 retail outlets.