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LG Chem’s participation in Indian petrochemical project uncertain; BPCL exploring other options

8:53 AM MDT | July 26, 2013 | Deepti Ramesh

Bharat Petroleum Corp. Ltd. (BPCL; Mumbai) tells CW that LG Chem has not confirmed its participation in the previously announced 60-billion Indian rupee ($1.01 billion) petrochemical project to be located adjacent to BPCL's refinery at Kochi, in the southern Indian state of Kerala. BPCL signed a memorandum of understanding (MOU) with LG Chem in July 2012 for the formation of a joint venture for the petrochemical project. “An MOU was signed with LG Chem last year, but things are moving very slowly, and LG Chem has not confirmed that they will go ahead with...

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