IndianOil to invest Rs 700 cr for NE retail outlets
Kolkata   03-Sep-2008
IndianOil has rolled out a plan for optimum utilisation of space in retail outlets. The oil major will pump in Rs 600-700 crore in the North East to give a facelift to the outlets and Kisan Seva Kendras over the next couple of years. The objective is to garner additional revenues needed to provide value-added services to customers, IndianOil, which has a network of 738 retail outlets and KSKs in the region, also plans to expand the chain with 30 more shops. According to the company, around 1,000 square feet of space is lying unused in each retail outlets in the North East. In over 17,000 retail outlets across the country, IndianOil has over 17, 00,000 square feet of prime retail space, throwing up new avenues for business. "There lies a unique opportunity to bring in all the retail players, consumer goods companies, banks, merchandisers, fast food courts, all under one roof and forge business alliances. We are also extending into fertiliser, seeds, and allied % products of agricultural use through KSK in village areas," chief retail sales manager of IndianOil's Northeast wing D Bharali said.The possible add-ons may include ATMs, stores, courier service and dhabas. On Monday, IndianOil entered into an MoU with the North-East-based Silver Drop Food and Beverages Private Ltd to introduce packaged drinking water at the shops. The retail shops will derive commission from the sale of the packaged water. "The company will invest around Rs 600 to Rs 700 crore and will provide a major facelift to the retail outlets," general manager of the North-East Integrated State -, Office of IndianOil, Subrato Ghosh, said. Most of the IndianOil's retail outlets are located in the prominent places, he said.