Transport Corporation To Have More Petrol Outlets

Mumbai, November 28: | Updated: Nov 29 2002, 05:30am hrs
The Transport Corporation of India (TCI) is planning to increase its petrol pump outlets to 20 from the existing eight outlets, over the next 12-18 month period. The company is participating in the process called by the private refineries like Reliance Industries and Essar, among others, for setting up petrol pumps at key locations.

The fuel business contributed around Rs 60 crore to TCIs topline of Rs 525 crore for the year ended March 2002.

We expect to more than double our turnover in the fuel business over the next 12-18 months, TCI executive director Vineet Agarwal said.

We are a captive buyer of fuel as our company operates a fleet of 4,000 trucks daily across the country. Of the 4,000 trucks, 500 vehicles are owned by the company, while 2,000 trucks are on daily rental basis and the rest are on contract, he added. We have ownership of freehold land at prime locations across the national highways in India which could bring down the capital cost of setting up the retail petrol pump outlets, Mr Agarwal said. The transport business contributes roughly 70 per cent to TCIs topline.

Meanwhile, TCIs XPS cargo services is likely to post a turnover of over Rs 100 crore as compared to Rs 80 crore last year. XPS cargo services is dedicated to transporting time bound high value cargo, with controlled cargo movement at each stage through computerised information systems.

TCI has a branch network of over 1,000 company-owned offices and a team of over 4,000 trained employees. The company also has group companies like TCI logistics in third party logistics and TCI Seaways in coastal cargo movement primarily from Chennai and Vizag to Andaman and Nicobar.