Kerala News
BPCL to give majority stake to UK company in petchem JV
State-run Bharat Petroleum Corporation Limited (BPCL) has finalised a joint venture (JV) agreement with UK-based LP Chemicals for petrochemical business. BPCL is likely to hold 49 per cent in the venture, with the British company holding a majority 51 per cent.
The JV would invest about Rs 5,000 crore in the project and have a 70:30 debt equity ratio. LP Chemicals may bring in Rs 1,500 crore. BPCL
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