State-run Bharat Petroleum Corporation Ltd on Wednesday said it will invest up to Rs 350-400 crore (Rs 3.5-4 billion) this fiscal to add about 1,500 new fuel outlets and upgrade the existing petrol stations.
"We plan to add 500 new fuel outlets in urban areas and along the highways and another 1,000 small outlets in rural areas to increase our footprint across the country," BPCL executive director (retail) S Krishnamurthi told PTI in Mumbai.
The addition of the new outlets would take place at an investment of Rs 150-200 crore (Rs 1.5-2 billion), he said adding, the company would also spend an additional equal amount on upgradation of its existing outlets.
The oil refining and marketing company presently has nearly 6,600 petrol outlets spread across the country.
Majority of the new outlets would be given as franchisees while the rest would be operated by the company, he said.
The oil giant today also entered into a marketing alliance with State Bank of India by which all SBI debit cardholders would be able to purchase fuel through the card.