Mangalore Refinery and Petrochemicals Ltd mulls stake acquisition in Haldia Petrochemicals

ONGC controlled Mangalore Refinery and Petrochemicals Ltd (MRPL) is mulling acquisition of stake in the debt stricken Haldia Petrochemicals. MRPL plans to bid for acquiring stake of the West Bengal Government in HPL, for which plans are underway to make a formal to the State Chief Minister. This is a step forward by MRPL to enter the petrochem sector as a forward integration to its refining activity. Bengal Government has expressed its intent to divest its 43% stake in the joint sector company through a transparent pricing mechanism.
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