withdraw from Indian Oil Corporation's (IOC) 15 million tpa grassroots refinery and petrochemical complex being set up at Paradip, Orissa. This paves the way for IOC to go solo on the Rs 25,000 crore refinery including production of paraxylene, polypropylene and styrene.
IOC has also not received any response from Kuwait Petroleum Corporation (KPC), whom it offered a stake in the Paradip refinery. IOC had signed an MoU with KPC to jointly consider setting up exploration and refining ventures in India, Kuwait, and other countries in March this year.
10-Jul-06 
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