Oil major Hindustan Petroleum Corporation Ltd is planning to roll out 1,250 petrol pumps in rural areas in the next five years entailing investments above Rs 312 crore.
Arun Balakrishnan, HPCL chairman and managing director, on the sidelines of the 28 th annual national conference of the National Institute of Personnel Management, said: “We will roll out 250 petrol pumps in rural areas every year for the next five years.” Setting up each petrol pump would cost around Rs 25 lakh and will be named as Hamara Pump, he added.
Currently, HPCL has 1,500 retail outlets in rural areas, which fetches around 25% of their total revenue from retail business. Balakrishnan said increasing the number of petrol pumps in rural areas would help them increase their retail market share while increasing the percentage of revenue from rural operations as well.
He said the detail project report (DPR) for the 15million tonne per annum capacity refinery in the west coast of India was being prepared and the company has already asked the Maharashtra government for 3000 acres.
HPCL, which has 7.5mt refinery at Vizag in Andhra Pradesh, wants to set up a 15mt refinery at an investment above Rs 25,000 crore in between Mumbai and Goa. HPCL jointly with Laxmi Mittal is also setting up a 9 mt refinery at Bhatinda in Punjab.