IOC Is Sole Contender for Acquisition Of West Bengal Govt.'s Stake in HPL

摘要

Haldia—Indian Oil Corp. (IOC), with an offer of less than Rs 3,000 crore, was the only company to bid for the West Bengal government's remaining 31% interest in Haldia Petrochemicals Ltd. (HPL), according to a post on IOC's website. Oil & Natural Gas Corp., which had planned a joint bid with IOC, withdrew from the bidding process last month after West Bengal decided not to allow any joint offers (PCN, 23 Sept 2013, p 3). Reliance Industries and Gail had also expressed interest in the stake. IOC currently holds an 8.89% interest in HPL.