MRPL plans to set up around 100 retail outlets in FY17: Report

In a bid to expand its foot-print, Mangalore Refineries and Petrochemicals (MRPL), a subsidiary of ONGC, is reportedly planning to set up around 100 retail outlets in FY17 as part of its expansion plans in the retail business. Currently, the company operates just two retail outlets in Karnataka and looks to expand further to cash in on road traffic growth in India.

The company is also examining its existing joint venture with Gulf Oil Lubricants India for a viable business plan. The company has a joint venture in place with Gulf Oil for its retail business named Mangalam Retail Services (MRSL). The joint venture so far has not commenced any business activities.

MRPL is engaged in the business of refining crude oil. It offers high speed diesel oil, fuel oil and motor spirit. It operates as a subsidiary of Oil and Natural Gas Corporation. The company was founded in 1988 and is based in Mangalore, Karnataka.