The state owned refinery holds a 63.68 per cent stake in Bharat Oman Refineries Ltd (BORL), which built and operates a 7.8 million tonne oil refinery at Bina in MP
State owned refiner BPCL, which is in the midst of privatisation, on Tuesday said its board will meet on Wednesday to consider buying out Oman Oil Company in the Bina refinery project in Madhya Pradesh.
The BPCL board will also consider merging Bharat Gas Resources Ltd (BGRL) with itself, the company said in a filing to the stock exchanges on Tuesday. BPCL holds a 63.68 per cent stake in Bharat Oman Refineries Ltd (BORL), which built and operates a 7.8 million tonne oil refinery at Bina in Madhya Pradesh.
The company board will on December 17 “consider a proposal for in-principle approval for acquisition of 36.62 per cent of equity shares in BORL from OQ S.A.O.C. (formerly known as Oman Oil Company S.A.O.C.)”, it said.
Source: Telegraph India
