400,000 bid for fuel pumps; investment of Rs 90,000 crore expected

To hold on to their market monopoly against the aggressive expansion of private fuel retailers like Nayara Energy and Reliance Industries, state-run oil marketing companies (OMCs) are set to more than double their retail outlets in the next three years. This is likely to see an investment of about Rs 80,000-90,000 crore in the sector.