(a): whether Public Sector Oil companies propose to invest $ 10 million in Mauritius to set up 25 world class retail outlets; and
(b): if so, the details thereof along with the terms and conditions of the agreement?
(a): whether Public Sector Oil companies propose to invest $ 10 million in Mauritius to set up 25 world class retail outlets; and
(b): if so, the details thereof along with the terms and conditions of the agreement?
MINISTER OF STATE IN THE MINISTRY OF PETROLEUM & NATURAL GAS (SHRI SANTOSH KUMAR GANGWAR)
(a) & (b): The Indian Oil Corporation Limited (IOC) proposes to invest approximately US $ 12 million in Mauritius to set up the following facilities:
i) An Oil Terminal at Mer Rouge including tankage, auxiliary facilities and bunkering facilities.
ii) Aviation set up at the SSR International Airport with product tankage for aviation fuel and provision of into-plane refuelling facilities.
iii) LPG storage, bottling and distribution.
iv) 25 world class retail stations and marketing of Servo lubes.
A Memorandum of Understanding (MOU) was entered into between the Government of Mauritius (GOM) and the Government of India (GOI) on 18th July, 2000. The MOU records the intent of GOM to work and collaborate with GOI through the Indian Oil Corporation Ltd. in the hydrocarbon sector in Mauritius.