IndianOil Group company Chennai Petroleum Corporation Ltd coinciding with its Diamond Jubilee year has embarked on a journey to set up retail outlets to sell petrol and diesel, a top official said on Tuesday.The company, which has been producing fuel at its refineries located near the city, has earmarked Rs 400 crore as capital expansion towards this cause.
“We are embarking on a journey to set up retail outlets. Long back about 20 years back, CPCL had one standalone outlet in Sriperumbudur. Now, we are again venturing into this strategic growth path. So this is one exciting journey we are taking now. We want to see that during this Diamond Jubilee year, we will be able to establish some diamond jubilee outlets that is a target we are working on,” CPCL Managing Director H Shankar told reporters.
Declining to elaborate on the number of outlets planned initially, he said during the Diamond Jubilee celebrations the company would be in a position to launch the first round of retail outlets.