Delhi-based start-up Indo Petroleum Marketing (IPM), granted transportation fuel retail marketing authorization by the Ministry of Petroleum and Natural Gas, plans to establish 15 fuel retail outlets in Assam. The authorization is part of the government’s revised policy aimed at promoting the ‘Start-Up India’ initiative and fostering innovation and entrepreneurship.
Jatin Sarma, Manager of Indo Petroleum Marketing, stated that the company aims to cover the entire North Eastern region soon. With a focus on introducing MSHSD facilities in areas lacking such infrastructure, the start-up initially selected Assam due to its significant crude potential and existing fuel availability through entities like Numaligarh Refinery Limited.
In the first phase, within three years, IPM plans to set up 15 outlets in Assam, including five in remote areas. Locations such as Tezpur, Guwahati, and Jorhat have been identified for the outlets, facilitating easy fuel transportation. The company aims to expand into Arunachal Pradesh and Meghalaya shortly.
Indo Petroleum Marketing has been granted permission to set up 100 outlets across the country within five years, making it the first Ministry-authorized start-up private oil marketing company to commence operations. The company envisions providing a ‘breath of fresh air’ in the oil marketing sector, with outlets offering green fuel options such as CNG or Bio Diesel, electric vehicle battery management options, and additional customer convenience features.
Sumit Bagchi, Marketing Head of Indo Petroleum Marketing, expressed gratitude for the positive response from the Assam government, highlighting the collaborative effort to identify suitable sites for the outlets. Bagchi emphasized the company’s Pan-India business model and the agreements in place with entities like NRL to ensure seamless fuel availability.
