Oil India Ltd Approves 18% Equity Participation in Joint Venture for Namrup IV Fertilizer Plant and Plans to Incorporate Wholly Owned Subsidiary at GIFT City

The Board of Directors of Oil India Ltd has approved an 18% equity participation in a proposed Joint Venture Company for setting up a new Ammonia-Urea Complex, Namrup IV Fertilizer Plant at Namrup, Assam. Additionally, the board has decided to incorporate a Wholly Owned Subsidiary (Finance Company) at GIFT City, Gujarat, to carry on the business in accordance with the IFSC rules and regulations. These decisions were made in a board meeting that commenced at 10:30 A.M. and concluded at 1240 P.M. on Wednesday, 07th May, 2025.