Chennai Petroleum Corporation Limited (CPCL) is making a comeback in the direct fuel retail business, nearly 20 years after its exit, with plans to establish a network of petrol and diesel outlets. The initiative has received approval from the Ministry of Petroleum and Natural Gas.
CPCL has allocated an initial capital investment of around Rs 400 crore for this project over the next two to three years. The first phase of retail outlets is expected to be launched during the company's Diamond Jubilee year, with site selection currently underway based on market demand and strategic location assessments.
The rollout will follow a phased and measured approach, with further expansion into other states contingent on market response and evolving conditions. This move aims to meet current fuel demand and strengthen CPCL’s footprint in the retail segment.
The initiative is part of CPCL’s larger strategy to diversify its operations and create long-term sustainable value.