Flagship refiner-marketer IndianOil Corporation is putting in the pipeline India's presence in a crucial energy corridor between Central and North Asia and the consumption centres in the West. The state-owned entity has submitted an expression of interest for acquiring the Turkish government-run chemicals maker Petkim Petrokimya and back it up with a $6 billion refinery on the Mediterranean coast.
"The Turkish government is disinvesting 53-54% in Petkim. We have put in an EoI (expression of interest). Bids will close on June 15. I would like to believe IndianOil will bid jointly with the Calik group with whom we have a strategic partnership," said B M Bansal, the man incharge of finding new businesses for IndianOil.
Read more in The Times of India article.
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