Oil PSUs to form JV with Mumbai airport for ATF distribution

Mumbai: In a bid to address security concerns and improve efficiency, the three state-run oil marketing companies have decided to form a joint venture with Mumbai airport for distribution of aviation turbine fuel (ATF) to aircraft.
Petroleum Secretary R S Pandey held a meeting on Wedenesday in this regard with the top management of Mumbai International Airport Ltd (MIAL) and senior officials from Indian Oil Corp (IOC), Bharat Petroleum (BPCL) and Hindustan Petroleum (HPCL).
"There was a meeting with officials of MIAL and the three oil PSUs yesterday. The MoU (memorandum of understanding) to set up a joint venture company will be signed within the next 15 days to one month," Pandey said today.
The Petroleum Secretary said it was suggested that all four joint venture partners be alloted 25 per cent stake each.
"It is a tentative proposal (to allot equal stake). An agreement will be finalised in three months, in which all these issues will be assessed and finalised," Pandey told PTI.
16/04/09 PTI/Economic Times

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Categories: Airports Apr 2009