Edition:
India

Hindustan Petroleum, Indian Oil, Bharat Petroleum To Form JV Co To Operate LPG Pipeline


Tuesday, 4 Jun 2019 

June 4 (Reuters) - HINDUSTAN PETROLEUM Corp Ltd ::INDIAN OIL CORP, BHARAT PETROLEUM CORP AND CO SIGNED AGREEMENT FOR FORMATION OF JOINT VENTURE COMPANY.JV CO FORMATION TO IMPLEMENT, OPERATE 2757 KM LONG LPG PIPELINE FROM KANDLA TO GORAKHPUR.INDIANOIL, BPCL AND HPCL WOULD HAVE 50%, 25% AND 25% EQUITY HOLDING RESPECTIVELY IN THE JV COMPANY.PIPELINE IS EXPECTED TO PROVIDE RELIABILITY IN THE SUPPLY CHAIN OF LPG.