Delhi-based start-up to set up 15 fuel retail outlets in Assam
I
ndo Petroleum Marketing (IPM), a Delhi-based start-up company that has been granted transportation fuel retail marketing authorization by the Ministry of Petroleum and Natural Gas, will set up 15 retail outlets in Assam.
The start-up company has been granted transportation fuel retail marketing authorization by the Ministry of Petroleum and Natural Gas of the Government of India under its revised policy for granting transportation fuel marketing authorization to private entities (including start-ups).
The revised policy was framed by the Ministry to realise the objectives of the flagship 'Start-Up India' initiative of Prime Minister Narendra Modi with the stated intention 'to catalyse start-up culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in India'.
Jatin Sarma, Manager of Indo Petroleum Marketing, told ANI that the new start-up company has targeted covering the entire North Eastern region in the coming days.
"We are trying to introduce MSHSD facilities in the areas where they are not there and increase the shortage of retail outlets. We have chosen Assam because it has almost crude potential here and fuel availability there, like Numaligarh Refinery Limited and it will be a great opportunity for us to start in the state. We will expand it to Arunachal Pradesh and Meghalaya as soon as possible," Jatin Sarma said.
"Initially, in the first phase, within three years, we are looking to set up 15 outlets in Assam and five in remote areas. These 15 outlets will be in Tezpur, Guwahati, Jorhat and the regions where we can easily transport fuel. We are promising to set up five retail outlets in the remote areas of Assam so that fuel availability can be smooth. We will build the facilities and our target is to reach North-East India. We will expand it to other parts of the country and talks are going on with different retail outlets and suppliers," Sarma added.
Indo Petroleum Marketing will set up retail outlets (petrol pumps) across the country to undertake fuel retailing and in the first phase, the Ministry has allowed the company to set up 100 outlets within 5 years.
Indo Petroleum Marketing is the first Ministry-authorized start-up private oil marketing company (OMC) to commence operations on the ground.
The company proposes to be like a 'breath of fresh air' in the oil marketing sector and all IPM retail outlets will have facilities for fuel sales, one new-age, environment-friendly 'green fuel option' like CNG or Bio Diesel, and/or electric vehicle 'battery management' options. Apart from fuel and energy options, the IPM outlets are proposed to be equipped with customer convenience options so that a visit to the IPM outlet is expected to rejuvenate both man and machine.
Sumit Bagchi, Marketing Head of Indo Petroleum Marketing, said that the company has received very good encouragement from the Assam government.
"They (state government) wanted us and the people of other start-ups to come to the state and they have sent out communication to the district levels so that they can identify the sites for us. That is one reason why we have thought that we should start our operation in Assam. We have already reached an agreement with the NRL and fuel availability will not be an issue. Our business is Pan-India basis," Sumit Bagchi said.
✔️ Delhi-based start-up to set up 15 fuel retail outlets in Assam
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