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Oil India to take 49% stake in Assam Petrochemicals' Namrup project

9:47 AM MDT | June 14, 2013 | Natasha Alperowicz

Oil India (Noida) will acquire a 49% stake in Assam Petrochemicals' expansion project planned at Namrup, in the Indian state of Assam. The government of Assam holds a majority stake in Assam Petrochemicals through Assam Industrial Development Corp. The project is expected to produce 500 m.t./day of methanol and 200 m.t./day of acetic acid using gas as feedstock. The board of Oil India recently approved the move to become an equity partner in the project. Oil India is the supplier of gas to Assam Petrochemicals.   Assam Petrochemicals has selected...

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