Engineers India, Oil India to jointly bid for BPCL stake in Numaligarh Refinery
State-run Oil India (OIL) and Engineers India (EIL) will jointly bid for acquiring Bharat Petroleum Corporation’s (BPCL) 61.65% stake in Numaligarh Refinery Limited (NRL), the companies said today.
The bid will be submitted through a formal process.
The Assam government will increase its stake to 26%, while Engineers India Ltd will be a new shareholder with a minority stake, and the refinery will become a subsidiary of Oil India which currently holds 26% stake in the refinery.
