By IANS
New Delhi : Mangalore Refinery and Petrochemicals Ltd (MRPL) and Shell Aviation will together market and supply aviation fuel at Indian airports.
MRPL and Shell Aviation are respective subsidiaries of the Indian petroleum major Oil and Natural Gas Corp (ONGC) and Shell, the multinational oil and gas giant.
“The company and Shell Aviation on January 21 announced a landmark agreement to enter into an exclusive joint venture (JV) to market and supply aviation fuel, initially at two Indian airports, Bangalore and Hyderabad, and later on at other Indian airports,” MRPL informed Bombay Stock Exchange Monday in a statement.
“The company will bring its expertise and supply of high quality products, and Shell Aviation will bring its global brand, network and customer base in addition to stringent quality control procedures,” the statement said.
“Together the companies will offer a compelling co-branded global refuelling offer to both the Indian and international airlines,” it said.
“The agreement will become effective early in 2008,” MRPL said.
R.S. Sharma, chairman of MRPL, hailed the JV agreement as a major initiative by both companies to cater to the growing Indian aviation sector, which will catalyse the marketing activities of MRPL.
MRPL Managing Director P. Rajamani also spoke on the occasion.
“MRPL has large production of international quality aviation fuel to meet the rapidly growing Indian demand,” he said.