Madurai, July 23: The Indian Oil Corporation would spend Rs.500 crore for modernising some of its retail outlets throughout the country. The Modernisation scheme - 'Everest' - would improve the quality of service and offer better facility for customers.
Talking to newsmen on Tuesday, general managers of IOC K Ramaswamy and C Ramachandran said 1000 petrol pump stations would be modernised under the scheme.
The IOC, which had been spending at the rate of Rs 300 crore to 400 crore in the last few years, had decided to increase the allocation to cover more bunks.
They also said an agreement had been signed with Sri Lanka to modernise 100 petrol bunks in that country where non-space petrol pumps would be provided. Besides, the Oil storage facility at Trincomallee would be renovated and modernised.
An agreement had been signed with the Hyundai Motors India Ltd that would enable the motor company to set up service stations at 300 IOC petrol outlets across the country. The technicians, trained by Hyundai, would be stationed at the service stations to attend to repairs and service.
Bureau Report