By IANS
Mumbai : The Mangalore Refinery and Petrochemicals Ltd (MRPL), a subsidiary of Oil and Natural Gas Corporation Ltd (ONGC), Wednesday announced its partnership with Shell Aviation for domestic marketing of aviation fuel.
MRPL managing director R. Rajamani and vice-president Shell Aviation Sjoerd Post Tuesday signed the joint venture agreement, which comes into effect from Mar 1.
The new entity would be incorporated as a private limited company, with initial equity of Rs.300 million and would be headquartered in Bangalore, said a statement by MRPL.
The company will initially be marketing aviation fuel at the Bangalore and Hyderabad airports, and later expand its operations to other airports in India.
It will also refuel foreign aircrafts in Indian airports and will also contract refuelling of Indian aircrafts at foreign airports through Shell affiliates.