NEW DELHI, February 13: Indo Rama chairman O P Lohia is willing to reduce his stake in Indo Rama Petrochemicals from 60 per cent to upto 51 per cent. Top sources in the company said Indo Rama is not opposed to the idea of bringing down its equity holding in the new PTA project to the extent that it can retain majority stake.Lohia's stake could come down to 54 per cent in the company if one of the three partners Mitsui of Japan picks up 20 per cent stake in the joint venture. Itochu will hold the balance 26 per cent.
Mitsui has so far committed five per cent equity.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
