- The proposed oil refining joint venture between Indian Oil Corporation Ltd (IOCL) and Chennai Petroleum Corporation Ltd. will see ICICI Bank purchase a 10% interest (CPCL).
- According to the bank’s exchange filing, the planned joint venture intends to build a petroleum refinery in Nagapattinam, Tamil Nadu.
- Each of IOCL and CPCL will own a 25% interest in the refinery.
10% of the Indian Oil and Chennai Petroleum joint venture will be purchased by ICICI Bank.
Published on
