Joint Venture17 Oct 2025, 05:33 pm
Gandhar Oil Refinery Terminates Joint Venture with ESPE Oils FZC
AI Summary
Gandhar Oil Refinery (India) Ltd. has announced the termination of its joint venture (JV) company, Texol Oils FZC, with ESPE Oils FZC. The termination agreement was executed on October 17, 2025. The company's board of directors had previously approved the closure/wound-up of the JV company at their meeting held on September 23, 2025. The termination of the JV is not expected to have any material impact on the company's business or operations.
Key Highlights
- Gandhar Oil Refinery (India) Ltd. has terminated its joint venture with ESPE Oils FZC.
- The termination agreement for Texol Oils FZC was executed on October 17, 2025.
- The company's board of directors had previously approved the closure/wound-up of the JV company.
- The termination of the JV is not expected to have any material impact on the company's business or operations.