BPCL finalises petrochem JV agreement to give majority stake to UK’s LP Chemicals

04-Jun-12
India’s state-run Bharat Petroleum Corporation Limited (BPCL) has finalised a joint venture (JV) agreement with UK-based LP Chemicals for petrochemical business. BPCL is likely to hold 49% in the venture, with the British company holding a majority 51%. The JV would invest about Rs 5,000 crore in the project and have a 70:30 debt equity ratio. LP Chemicals may bring in Rs 1,500 crore. BPCL plans to spend Rs 40,000 crore in the next five years to set up a petrochemical plant at the Kochi refinery to produce niche products, expand the capacity of existing refineries, gas marketing and exploration and production. The two are expected to sign a memorandum of association shortly, after which a feasibility study will be undertaken and later a company will be formed. The company would integrate the expansion of its Kochi refinery and construction of its petchem plant. The deadline for both projects has been set for 2015.
  More News  Post Your Comment

Previous News

Next News

{{comment.Name}} made a post.
{{comment.DateTimeStampDisplay}}

{{comment.Comments}}

COMMENTS

0

There are no comments to display. Be the first one to comment!

*

Name Required.

*

Email Id Required.

Email Id Not Valid.

*

Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.
*

Message Required.

Click to Change image  Refresh Captcha
Reclamax single step plastic recycling machine

Reclamax single step plastic recycling machine