Public sector oil marketing companies have issued letters of intent (LOI) to over 2,500 applicants to set up petrol pumps. Minister for Petroleum and Natural Gas Dharmendra Pradhan issued the online intimation to this first batch of successful candidates to enable them to collect the LOIs.
It takes anywhere between six months and two years, subject to land availability and clearances, for a petrol pump to come on ground, according to industry sources.
OMCs had advertised for setting up retail outlets in 78,493 locations. This move effectively more than doubles their existing 57,000 retail outlets of PSU OMCs. More than 4 lakh applications were received for the same, according to an official statement.
