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Chemical Week Magazine :: New Construction Projects
LG Chem to hold majority in India propylene JV with Bharat Petroleum
6:22 AM MDT | October 5, 2012
Bharat Petroleum Corp. Ltd. (BPCL; Mumbai) says it is willing to offer a majority stake in a previously announced propylene project at BPCLâ€™s Kochi, India refinery to LG Chem, its partner in the project. BPCL signed a memorandum of understanding with LG Chem last July to develop a propylene production joint venture at a cost of Rs60 billion ($1.1 billion). LG Chem is seeking a 51% stake in the venture and BPCL is â€śopen to that,â€ť says S. Varadarajan, BPCLâ€™s finance director. The jv company will be established by December or January, and the plant will be...
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