Mercantile & Industrial Development Company Limited (MIDCO Ltd.) Midco was incorporated in 1949 and has been in the business of manufacturing petroleum dispensing units since the early 1960s. Its head office is in Mumbai (Bombay) and it has production units in Mumbai (Bombay) as well as in the city of Ahmedabad. Midco's R&D is aimed at continuously adding value to its existing line of products as well as developing new components, products, and solutions for its customers. The R&D Department is based in Mumbai (Bombay) and shares work with premier Indian technology institutes and with foreign companies and agencies to ensure that it is always up-to-date in all areas of technology within the scope of its products.