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Indian Oil Corporation Ltd. - Announcement under Regulation 30 (LODR)-Joint Venture

| Updated on June 04, 2019 Published on June 04, 2019

Pursuant to Regulation 30 read with Part A of Schedule III of SEBI (LODR) Regulations 2015, it is hereby notified that Indian Oil Corporation Limited (IndianOil), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) have signed an Agreement on 03.06.2019 for formation of a Joint Venture Company for implementation and subsequent operation of 2757 Km long LPG Pipeline from Kandla, Gujarat to Gorakhpur, UP. IndianOil, BPCL and HPCL would have 50%, 25% and 25% equity holding in the JV Company.

The proposed pipeline will source product from Kandla and other LPG import terminals on West Coast and two refineries at Koyali, Gujarat and Bina, MP and would directly link 22 LPG bottling plants in Gujarat (3), MP (6) and UP (13) owned by the three promoter companies. In addition, the pipeline would feed LPG through road-bridging to additional 21 LPG bottling plants in Rajasthan, Gujarat, MP, Maharashtra and UP.


Pdf Link: Indian Oil Corporation Ltd. - Announcement under Regulation 30 (LODR)-Joint Venture

Source : BSE - www.bseindia.com

Published on June 04, 2019

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