Centre-owned oil firms IOC, BPCL and HPCL today signed an agreement to jointly set up India’s biggest refinery at Ratnagiri district of Maharashtra at a cost of USD 30 billion or Rs 2 lakh crore.
Indian Oil Corp (IOC) will be the lead partner with 50 per cent stake while Hindustan Petroleum Corp Ltd (HPCL) and Bharat Petroleum Corp Ltd (BPCL) will take 25 per cent stake each.
The three oil refining and marketing companies signed the joint venture agreement here this evening. The pact was signed by IOC Chairman Sanjiv Singh, HPCL Chairman and Managing Director Mukesh Kumar Surana and BPCL Chairman and Managing Director D Rajkumar. Read More…
Credit By: New Indian Express
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