MRPL & SHELL JV TO ENTER AVIATION FUELLING BUSINESS

Date: 
January 21, 2008

Shell Aviation and Mangalore Refinery and Petrochemicals Limited (MRPL), an ONGC Group Company and a mini ratna I, today announced a landmark agreement to enter into an exclusive joint venture to market and supply aviation fuel, initially at two Indian airports, Bangalore and Hyderabad and later on at other Indian airports.

The companies will provide complimentary services and strengths to the joint venture; MRPL will bring its expertise & and supply of high quality products, and Shell Aviation will bring its global brand, network and customer base in addition to stringent quality control procedures. Together the companies will offer a compelling co-branded global refuelling offer to both the Indian and international airlines. The agreement will become effective early in 2008.

R S Sharma, Chairman, MRPL and C&MD,ONGC hailed the JV agreement as a major initiative by both companies to cater to the growing Indian Aviation sector that will catalyse the marketing activities of MRPL.

R Rajamani, Managing Director, MRPL said, "Aviation Sector in India is growing at a frantic pace. MRPL has large production of international quality Aviation Fuel, which can meet the rapidly growing Indian demand. The JV between MRPL and Shell in aviation field will offer the best quality standards and technical service to domestic and international airlines".

L K Gupta, Director (F), MRPL said, "MRPL and Shell bring in significant value to the JV which will ultimately benefit the customers. This JV will also put MRPL on international level by supplying Aviation fuel in India to foreign airlines on one hand and on the other, by contracting fuel supply for Indian carriers when they fly abroad."

Sjoerd Post, Vice President Shell Aviation, said, "India is an important growth market for Shell Aviation and the industry as a whole. We are pleased to be working with MRPL, this agreement extends our global network offering and will benefit both Indian and our global customers."

Vikram Singh Mehta, Chairman, Shell Companies in India, said, "with explosive growth in the civil aviation sector in India it is indeed timely that we are formally joining hands with MRPL, to serve this large market opportunity with our shared values of quality products and excellent service".

For further information, please contact:
Mangalore Refinery and Petrochemicals Limited
Lekshmi M. Kumaran, +91 9448495706