MRPL & Shell JV to enter Aviation Fuelling Business

Thebullishtrends: MRPL share price closed today at Rs.88.10(-26.64%) share price lost Rs.32 today. Mangalore Refinery & Petrochemicals Ltd (MRPL) has informed at the end of the trading session that Shell Aviation and the Company on January 21, 2008, 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;

The Company 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 refueling offer to both the Indian and international airlines. The agreement will become effective early in 2008.