Essar Oil targets 5,000 fuel retail outlets
Essar Oil remains bullish on the fuel retailing segment post diesel deregulation and is planning to set up another 2,100 retail outlets. After the first 1,500 ones and having 1,400 under implementation.
This takes the total to 5,000 retail outlets, making Essar Oil largest private fuel retailer in the country.
In its expansion drive, Essar has fuel retail outlets under all formats - company owned, company operated (Coco), company owned, dealer operated (Codo) and dealer owned, dealer operated (Dodo).
´Essar has so far invested around Rs 10 crore in CoCo outlets. Going forward, it would like to invest Rs 300-350 crore in these. On an average, a CoCo outlet requires an investment of Rs 1-1.5 crore,´ a company official said.