MUMBAI (NewsRise) -- Reliance Industries signed a definitive agreement with British energy major BP to form a joint venture that will expand the Indian conglomerate's fuel retail network by four times over the next five years.
The new venture -- Jio-BP -- will expand Reliance's current network of retail outlets and aviation fuel stations across India to up to 5,500 and 45, respectively, over the next five years, both the companies said in a statement. Reliance currently has 1,400 fuel retail sites and 30 aviation fuel stations.
