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IOC gets nod to sell equity to Lubrizol Corp

Staff reporter, New Delhi
16/03/2017   0 Comments

Cabinet Committee on Economic Affairs on Wednesday gave its in-principle approval to Indian Oil Corporation Limited (IOC) to sell 24 per cent equity of one of its joint venture, Lubrizol India Private Limited (LIPL), to USA based Lubrizol Corporation, Bureaucracy Today has learnt.

 
The sale is expected to enable IOC to have long-term association with is joint ventures partner. It also aims to provide access to LIPL to the latest global additive technologies developed by Lubrizol Corporation of USA.

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