The company plans to come up with 500 new outlets during current fiscal. It has so far set up 137 new outlets by end of October.
A K Chaudhury, executive director (retail) of HPCL said it has earmarked Rs 200 crore for building new outlets.
HPCL will invest almost similar amount for modernising old outlets to meet the challenge from other oil marketing companies.
The investment per outlet will be Rs 40 lakh per outlet. It will extend the Club HP brand to 1500 ROs during this year, from 900 now.
The company has earmarked Rs 50 crore for automation at 300 Club HP retail outlets. Chaudhury pointed out HPCL was leading among all OMCs to introduce this service. So far it has 40 outlets with automation in Mumbai.
