Indian Oil Corporation (IOC) has received an approval for formation of Joint Venture Company (JVC) between Indian Oil, GAIL (India), Oil & Natural Gas Corporation, Numaligarh Refinery and Oil India with 20% equity holding by each company for development of the Natural Gas Pipeline Grid in the North East connecting Guwahati to other major cities in the North East. The Board of the company at its meeting held on May 22, 2018, approved the same.
The Board accorded approval for Initial Equity Contribution of Rs 2 crore in the Equity Capital of the JVC. The approval accorded by the Board is subject to the concurrence of NITI Aayog for formation of JVC.
IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.
| Company Name | CMP |
|---|---|
| Reliance Industries | 1304.25 |
| Indian Oil Corpn. | 141.60 |
| Bharat PetroleumCorp | 308.20 |
| HPCL | 399.35 |
| MRPL | 150.20 |
| View more.. | |
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