Mangalore Refinery and Petrochemicals Limited (MRPL) and Corporation Bank on Tuesday signed a Memorandum of Understanding (MoU) to leverage their respective strengths to provide a wholesome bouquet of services to customers in the fuel retail segment. The MoU was signed by Corporation Bank General Manager (IT) B R Bhat and MRPL General Manager (Retail Sales) Sanjay Grover at the Corporation Bank head office here.

Speaking to media persons after signing the MoU, Mr Grover said the MRPL already has the approval from the Government of India to set up a chain of 500 retail outlets across the country and recent launch of its retail outlet HiQ at Maddur on the Bangalore-Mysore Highway was the first outlet.

Stating that MRPL would open at least 25 retail outlets by the end of this year, Mr Grover said that out of this, Karnataka would have at least 15 outlets. The remaining would come up in Tamil Nadu, Andhra Pradesh and Kerala besides Gujarat and Maharashtra. “HiQ outlets at Hubli and Mangalore are getting ready for commissioning within the current financial year,” he said adding that the outlets have been designed by National Institute of Design, Ahmedabad.

Brand promise

Elaborating on the philosophy of HiQ, Mr Grover said that HiQ stands for the highest quality of fuels and services.

The entire experience at the HiQ, right from quality and quantity of the fuels, to dispensing, to monitoring, to house-keeping and the bouquet of services to be provided to the customer, HiQ will reflect this brand promise. 

B R Bhat said that as per the arrangement, Corporation Bank will have the choice of setting up of ATMs at the MRPL retail outlets being set up across Karnataka and other southern states, to provide banking facilities for customers on the move.