INDIAN Oil Corporation (IOC) is out of the race for stakes in the 12th olefin com-plex at Bandar Assaluyeh in Iran.A recent communica-tion from the National Petro-chemical Company (NPC) of Iran has said that it has al-ready gone ahead with the is-suance of enquiries for EPC bids tor tfle petrochemical complex and does not want to partner IOC in the project.NPC has said that it would not allow IOC to enter the project even at a later stage.
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