NEW DELHI: Steel czar LN Mittal could be tanking up for a new energy drive in India, this time around, in the oil and gas exploration business. Sources in the know said that the Mittal group could be a prospective partner in HPCL’s exploration arm Prize Petroleum Company (PPCL), which is planning a rights issue.
ICICI Bank, a joint venture partner in PPCL, has expressed its unwillingness to subscribe to the issue and is willing to offload its stake to a strategic third partner. While HPCL has 50% stake in PPCL, ICICI Bank and HDFC hold 45% and 5% equity stake, respectively.
Read More
Monday, September 24, 2007
Explore More: Mittal, HPCL may tie up for oil hunt
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment