Chennai Petroleum Corporation Ltd (CPCL) has obtained licences to set up 300 retail outlets in India and will soon embark on its retail journey, said AS Sahney, Chairman of IndianOil and CPCL, on Tuesday.
CPCL aims to transition from a standalone refiner to an oil marketing company by setting up fuel stations across various States and ensuring a balanced pan-India presence across urban and highway markets, he added.
An initial capital expenditure of approximately ₹400 crore has been earmarked for the project over the next two to three years. The application window for retail outlet dealership is open till August 30, he said.
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