The Times of India: Shell ready to roll out gas stations in Q3
“Shell has licence to open up to 2,000 outlets”
SANJAY DUTTA
TIMES NEWS NETWORK TUESDAY, JULY 20, 2004
NEW DELHI: Petrogoods customers are in for a global experience from the third quarter of the current fiscal, with the government set to allow the world’s biggest retailer, Shell, to start running its gasoline stations.
Shell has submitted to oil ministry an audited report on completing investment in excess of Rs 2,000 crore in the oil sector. Once it is vetted, the company can start selling products. “We will be in the marketplace in the third quarter of the current fiscal. Our investment in the Hazira LNG project itself exceeds Rs 2,000 crore. There are others. We expect a clearance any day now,” Vikram Singh Mehta, who heads Shell’s India operations, said. Shell has licence to open up to 2,000 outlets but can only construct them at present and not start selling products till the investment is completed.
Mehta said Shell will invest up to Rs 200 crore on its retail plan in the first phase spanning two years but declined to divulge number of outlets that it will begin operations with. “The ballpark of Rs 2 crore per outlet is based on mistaken assumptions. Investment in each pump and the pace of rollout depends location, availability and cost of land, services and facilities being provided as also the time for statutory local clearances.”
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