From The Borneo Post
India’s leading public sector oil company IOC is planning fresh investments to expand its capacity in Mauritius after establishing itself as a major fuel retailer in the island nation. It is also looking to expand into other African markets by turning Mauritius into its base for the region, IndianOil Mauritius Ltd (IOML) managing director Ranjan Kumar Mohapatra said.
IOML is a wholly owned subsidiary of Indian Oil Corp Ltd (IOC), a leading public sector undertaking (PSU) and largest oil company in India, Press Trust of India (PTI) reported. It entered Mauritius in 2002 and began operations in 2004 after setting up terminals and other facilities. “Yes, we are trying to make Mauritius a base to enter Africa.
“In the first phase, we would like to take our lubricant product Servo to Africa.
“Currently we are not exporting anything, but we being a Free Port entity in Mauritius would have significant benefits once we start exporting to Africa,” said Mohapatra.
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