Joint Venture26 Oct 2024, 03:56 pm
Bharat Petroleum Corporation Ltd. to Develop City Gas Distribution Project in Arunachal Pradesh with Oil India Limited
AI Summary
Bharat Petroleum Corporation Ltd. (BPCL) has approved entering into a joint venture agreement with Oil India Limited (OIL) for the purpose of developing a City Gas Distribution (CGD) project in the state of Arunachal Pradesh. The joint venture will be a private limited company with equal equity participation from BPCL and OIL. The authorized share capital of the proposed JVC is Rs. 125 Crores. BPCL aims to benefit from Oil India Limited’s strong presence and experience in hydrocarbon operation in the Northeast area.
Key Highlights
- BPCL and OIL to form a joint venture for CGD project in Arunachal Pradesh
- The joint venture will be a private limited company with equal equity participation from BPCL and OIL
- The authorized share capital of the proposed JVC is Rs. 125 Crores
- BPCL aims to benefit from Oil India Limited’s strong presence and experience in hydrocarbon operation in the Northeast area
- The proposed JVC will have its registered office within the state of Arunachal Pradesh