TITLE

Mittal gets nod to buy 49% in HPCL refinery

PUB. DATE
July 2007
SOURCE
Chemical Business;Jul2007, Vol. 21 Issue 7, p84
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the approval received by Mittal from the Indian Union Cabinet for its Rs 3,506-crore foreign direct investment (FDI) to acquire 49% equity stake in a green-field refinery at Bhatinda, India owned by HPCL. The article cites that the two companies will hold an equal stake in the refinery while balance 2% equity stake would be offered to domestic financial institutions. According to SBI, about Rs 18,919 crore will be the refinery's construction cost.
ACCESSION #
26133982

 

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