The LN Mittal group has signed a memorandum of understanding (MoU) with HPCL, French oil major Total, Gail and Oil India for jointly developing a $6-billion refinery-cumpetrochemical complex in Vishakhapatnam. The 15 million tonne per year refinery project also includes a 1 million tonne olefins and aromatics complex. The exact equity structure and project cost would be decided after the feasibility studies are completed. Mr Mittal has already picked up a 49% stake in HPCLâ€™s $3.6-billion Bhatinda refinery. He has also evinced interest in venturing into the exploration and production sector. The L N Mittal group may participate in the forthcoming round of bidding exploration blocks under NELP-VII.
Every time an offender stealthily leaves India to take refuge in another country, the Government of India starts all over again with its strategy of bringing him back to the nation to make him stan More
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