Indian conglomerate Reliance Industries Ltd plans to restart its entire 1,400 retail fuel pump outlets in fiscal year ending March 2016, a report on the company website shows.
The stations were closed in 2008 when global oil prices urged towards $150 a barrel and the government’s subsidy to state fuel retailers knocked privately-owned retailers out of the market.
Over 320 fuel outlets have already been restarted, a presentation on the website showed.
Reliance took a significant share away from the state companies in 2006.
The top three state refiners, Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp , between them sell nearly all of petrol and diesel consumed annually in India.
