Sunday, May 07, 2017

With UDAN, IOC to work on a new low-cost infra model

New Delhi: With the government coming up with the UDAN (Ude Desh Ka Aam Naagrik) scheme to boost regional air connectivity, aviation turbine fuel players, too, are gearing up to cater to the growing market. State-run Indian Oil Corporation (IOC) has said that the company is working on a low-cost model for ATF infrastructure at the upcoming smaller airports in the country.

At least 44 such airports are set to come up at various cities across the country in the  first phase of UDAN. “We are working on a low-cost model for ATF infrastructure at RCS airports, as it offers a huge potential for business. We are yet to finalise on the investments that will go into it,” said B Ashok, chairman, IOC.

In India’s ATF market, the state-run oil major has an edge over others with more than 60 per cent of the market share. Private players such as Reliance Industries Ltd (RIL) and Essar Oil, too, are slowly increasing their market share in the ATF segment.
06/05/17 Shine Jacob/Business Standard