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Mumbai, Sept. 19

BPCL would be forming a $29-million joint venture company with the US-based Matrix Marine Fuels LLC primarily for expanding bunkering business. The joint venture would be based out of Singapore. BPCL’s board gave the approval on Wednesday. According to a company official, both the companies have jointly raised $4 million and another $25 million would be raised over the course of time. —

Our Bureau

More Stories on : Alliances & Joint Ventures | Petroleum | Bharat Petroleum Corporation Ltd

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