Disinvestment: BPCL to sell Numaligarh Refinery stake for ₹9,876 cr
Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) on Monday said it will exit Numaligarh refinery in Assam by selling its entire stake to a consortium of Oil India Ltd and Engineers India Ltd for ₹9,876 crore.
The sale of Numaligarh Refinery Ltd clears the way for privatisation of India’s second-largest fuel retailer.
In keeping with the Assam Peace Accord, the government had decided to keep Numaligarh Refinery Ltd (NRL) in the public sector. As part of this, BPCL was to sell its entire 61.65 per cent stake to state-owned firms.
