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Kuwait’s Petrochemical Industries to buy stake in India’s OpaL

by ChemOrbis Editorial Team -
  • 19/11/2015 (15:58)
According to media reports, Kuwait’s Petrochemical Industries Company (PIC) is close to reaching an agreement with India’s ONGC Petro-additions Limited (OpaL) to acquire a 45% stake in the company’s chemical factory in India.

PIC’s chief executive reportedly said that the transaction has seen many delays so far stemming from the Indian laws.

PIC is a subsidiary of state-owned Kuwait Petroleum Corporation (KPC) while OpaL is a joint venture between Oil and Natural Gas Corporation (ONGC), Gujarat State Petroleum Corporation (GSPC) and Gas Authority of India Limited (GAIL).
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