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Saturday, Dec 14, 2002

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Reliance may bid for HPCL

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NEW DELHI, Dec. 13

RELIANCE Industries Ltd (RIL) may bid for a stake in Hindustan Petroleum Corporation Ltd (HPCL), the RIL Chairman, Mr Mukesh Ambani, said here.

"Yes. Sure. Let us see the Government policy in detail," Mr Ambani told newspersons, when asked whether Reliance would be interested in buying a strategic stake in HPCL.

The Government had earlier this week announced that it would go ahead with its privatisation programme and sell stakes in HPCL and Bharat Petroleum Corporation Ltd (BPCL). It said that bids would soon be called for a strategic stake in HPCL and also that a public offering would be made in the case of BPCL.

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