IOC Drops Plans To Merge Chennai Petroleum With Itself

IOC Drops Plans To Merge Chennai Petroleum With Itself

State-owned Indian Oil Corporation (IOC) has dropped plans to merge its subsidiary Chennai Petroleum Corp Ltd (CPCL) with itself, a top company official said.

IOC holds 51.89 per cent stake in CPCL and had planned to merge the company with itself like it had done with another subsidiary, Bongaigaon Refinery and Petrochemicals Ltd (BRPL), more than a decade ago.

State-owned Indian Oil Corporation (IOC) has dropped plans to merge its subsidiary Chennai Petroleum Corp Ltd (CPCL) with itself, a top company official said.

IOC holds 51.89 per cent stake in CPCL and had planned to merge the company with itself like it had done with another subsidiary, Bongaigaon Refinery and Petrochemicals Ltd (BRPL), more than a decade ago. Read More…

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