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Indian Oil Corpn Ltd, Reliance Industries Ltd And Gail Oil To Bid For HPL Stake On October 7-Business Standard


Thursday, 3 Oct 2013 07:20am EDT 

Business Standard reported that Reliance Industries Ltd, Indian Oil Corp and GAIL-OIL combine are likely to bid for buying West Bengal government's 31% stake in the beleagured Haldia Petrochemicals Ltd (HPL) on October 7. Others who had submitted expression of interest for buying West Bengal government's stake in HPL are Anil Agarwal-owned Vedanta Resources through its subsidiary Cairn India, state-owned Oil and Natural Gas Corp (ONGC) and Naveen Jindal's Jindal Steel and Power Ltd. ONGC is said to be reconsidering to make a bid while Cairn and Jindal have an outside chance because of their lack of prior experience in owning or operating a cracker. Sources said RIL, GAIL and IOC are the only firms who have track-record of running big petrochemical plants. 

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