MRPL to sell ATF in more airports

Speaking with presspersons after the 22nd annual general meeting here on Saturday he said the expansion of the ATF to other airports will take place in a phased manner. The marketing of ATF to both domestic and international airlines at Indian airports achieved an operating profit of Rs 145.45 million and a post tax profit of Rs 45.34 million in its first full year of operation after wiping out the losses incurred in the previous year.

With the decontrol of Motor Spirit prices from June 25 and likely deregulation of other auto fuels, MRPL has decided to revive its retail marketing plan, he said.

As a first step, the Board has approved in-principle for the setting up of 122 retail outlets under HiQ brand in phase 1 with an investment of Rs 87 crore till 2012-13. The 122 retails outlets will be set up in close proximity to MRPL, that is, Kerala, Karnataka, Andhra Pradesh and Tamil Nadu.

MRPL is proposing to set up a Single Point Mooring (SPM) facility in the sea off Mangalore Port with an objective to receive crude oil in Very Large Crude Carrier (VLCC) tankers.
Implementation of the project will considerably reduce the crude transportation cost and improve the profitability, offer flexibility to receive West African and Venezuelan crudes that can be economically processed. The estimated cost of the project is Rs 1,044 crore and the project is likely to completed by May 2012.

He also said that the technical completion of the Phase III of the Refinery project will be
achieved by October 2011. MRPL Managing Director U K Basu was present.