Bharat Petroleum Corporation Ltd (BPCL) will strive to satisfy the customer needs better by setting up modern convenience stores in its retail outlets and the company hopes to generate at least 10 per cent of its profits through this secondary business, Mr S. Behuria, Chairman and Managing Director, has said.
Inaugurating the `In and out convenience store' at a retail outlet of the company here, he said the BPCL had 235 such stores in the four metros and other cities in the country and the number would be taken to 400 in the future.
In Andhra Pradesh, he said, the Vizag store was the 14th.
Anticipating the retail revolution in the country, BPCL was the first oil company in the country to start such stores in 1996 and the endeavour would be to fulfil "all customers needs and aspirations" at a single point.
In spite of certain initial hiccups, the idea had worked and the dealers were also happy with the results.
"It's a different kind of business, one which calls for hard work and dedication," he said.
He said the company was selling 20 million tonnes of products through a network of over 150 terminals/bottling plants, 5,000 retail outlets, 1,850 LPG distributors and 1,000 SKO dealers.
There were also several thousand direct customers.
Later, he told newsmen that the company would be spending Rs 1,800 crore on enhancement of its refining capacities in Mumbai and subsequently an additional Rs 2,000 crore on Kochi refinery.
The company was also planning to spend Rs 1,500 crore on exploration in the next five years.