For India's oil marketing companies, which are deep in the red, any business other than petroleum retailing looks like good business, reports Daily News & Analysis, Mumbai. First, they set up retail outlets at their gasoline stations to sell packaged foods, music cassettes and accessories. Now the oil majors want restaurants around.

State-owned Hindustan Petroleum (HPCL), the second largest integrated oil company, has tied up with McDonald's and the homegrown Kamat group of hotels for operating restaurants at HPCL retail outlets across the country.

Indian Oil Corporation (IOC) is also setting up a separate division for such tie-ups. Says Sarthak Behuria, IOC Chairman: "We are looking for tie-ups with major retail chains to open co-branded petrol pumps-cum-retail plazas to enhance our non-fuel revenues. We are also setting up petrol pumps at multiplexes."

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