Friday 21 June 2013

IOCL bids for HPL's stake, polymer supply situation to improve if successful
20 Jun : 
Polymer supplies in India will be more streamlined if Indian Oil Corporation Limited (IOCL) wins the 33.99% stake of the West Bengal government in the financially constrained petrochemical producer: Haldia Petrochemicals Limited (HPL). State-run IOCL is in the process of bidding for the stake of the state government in HPL, among other contenders, like Reliance Industries Limited, Essar Oil Limited and Oil and Natural Gas Commission. IOCL is already a stake-holder of HPL with 8.89 percent equity holding.

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