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Chemical Week Magazine :: Business & Finance :: Asia/Pacific

Indian Oil and MRPL in Talks to Buy Haldia Petrochemicals

10:17 AM MDT | June 22, 2012 | —Natasha Alperowicz

Chatterjee: Held discussions with Indian Oil and MRPL, each keen to establish a majority stake. Indian Oil (New Delhi) and Mangalore Refinery & Petrochemicals Ltd. (MRPL), a subsidiary of Oil and Natural Gas Corp. (ONGC; New Delhi), have separately expressed an interest in acquiring a major stake in financially troubled Haldia Petrochemicals. (HPL; Kolkata, India), the only petrochemicals producer on India’s east coast, senior local sources tell CW. The two companies have held discussions with the chief secretary of the state government of West Bengal...

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