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Saturday, Aug 10, 2002

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Bhushan group, IOC sign long-term pact

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INDIAN Oil Corporation (IOC) on Friday signed a long-term agreement with the Bhushan Group of Industries to supply 100 per cent of its requirements of petroleum products.

The agreement for complete supply of petroleum product requirements was signed here between IOC's Executive Director (Lubes), Mr P.S. Ahluwalia, and Bhushan Group's Deputy General Manager (Materials), Mr K. Saxena, in the presence of IOC's Executive Director (Northern region), Mr V.K. Chaudhri, and the Managing Director of Bhushan Group, Mr Neeraj Singhal, according to an IOC press release.

Bhushan Group, a relatively young conglomerate, has a turnover of Rs 2,500 crore. Engaged mainly in the manufacture of cold-rolled steel sheets, pipes, strips, tubes and cable tapes, the group has seven manufacturing plants in the country. Among its prominent customers are Ashok Leyland, Maruti, Telco, Ford, Hyundai and Bajaj.

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