Monday, July 13, 1998
Bharat Petroleum, Oman Oil agree to rope in ONGC for Bina refinery plan
The state-run Bharat Petroleum Corporation and the Oman Oil Company, promoters of the Bina refinery project in Madhya Pradesh, have agreed to rope in the Oil and Natural Gas Corporation as a third partner. While there is no indication of the stake that ONGC will hold in the refinery, sources say that both BPCL and Oman Oil will not be averse to offering even 26 per cent.
IPCL plans Rs 1,000 crore expansion with three pacts
The state-owned Indian Petrochemicals Corporation Ltd (IPCL) has chalked out a Rs 1,000 crore plan to increase its presence in the lucrative petrochemicals sector through formation of three joint venture projects. The "navratna" public sector undertaking has tied up a Rs 350 crore joint venture with US firm Vinmar Petrochemicals to form the joint venture "Indian Petrovin Ltd".
Wockhardt links up with six insurance majors
The Mumbai-based Wockhardt group has forged a string of "linkages" with six major international insurance bodies as part of its strategy to cash in on the opportunities arising from the opening up of the Indian health insurance sector. Wockhardt group chairman and managing director, HF Khorakiwala, said that though the company was not looking at the health insurance business per se, it had forged relationships with six leading global insurance firms for its Bangalore hospital, Wockhardt Hospital and Heart Institute.
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