News Release Details
Petronas lines up Rs 25k or for oil retail in India
Pune 09-Sep-2007
Petroleum Nasional Berhad (Petronas), a Fortune 500 company from Malaysia, is planning to set up petrol pumps in India for an initial investment of Rs 25,000 crore. The company is in advanced talks with the Indian government for its foray into this market. "Initially, we will invest Rs 25,000 crore as per the Indian government rule for foreign petroleum companies," Raman pal Singh Suri, regional manager (Western region), Petronas Marketing (India) Pvt Ltd, said. Petronas Marketing (India) is the marketing arm of the Petroleum Nasional Bhd. Suri was here to launch Petronas' lubricant products. The company has launched the product six months ago and is targeting the domestic automotive sector. "We have received approvals from the international original equipment 'manufactures (OEMs) for our lubricant products to use it in their vehicles. The company is also in talks with Volvo, Tata Motors and Bajaj Auto Ltd for OEM approval for its lubricant products. Today 37% private vehicle owners continue to take service from authorized service providers of OEMs. The approval will help Petronas to increase its footprint in India," he added.
Pune 09-Sep-2007
Petroleum Nasional Berhad (Petronas), a Fortune 500 company from Malaysia, is planning to set up petrol pumps in India for an initial investment of Rs 25,000 crore. The company is in advanced talks with the Indian government for its foray into this market. "Initially, we will invest Rs 25,000 crore as per the Indian government rule for foreign petroleum companies," Raman pal Singh Suri, regional manager (Western region), Petronas Marketing (India) Pvt Ltd, said. Petronas Marketing (India) is the marketing arm of the Petroleum Nasional Bhd. Suri was here to launch Petronas' lubricant products. The company has launched the product six months ago and is targeting the domestic automotive sector. "We have received approvals from the international original equipment 'manufactures (OEMs) for our lubricant products to use it in their vehicles. The company is also in talks with Volvo, Tata Motors and Bajaj Auto Ltd for OEM approval for its lubricant products. Today 37% private vehicle owners continue to take service from authorized service providers of OEMs. The approval will help Petronas to increase its footprint in India," he added.