Haldia Petrochem makes fresh bid for Nagarjuna refinery
CHENNAI: Kolkata-based Haldia Petrochemicals has filed a fresh bid for the oil refinery of NagarjunaNSE -2.69 % Oil in Tamil Nadu’s Cuddalore district, a coastal plant facing liquidation that may be turned around into a large petrochemical complex and refinery should creditors agree to the bid in a meeting slated for December. Adani PortsNSE 0.41 %, also interested in the 2,185-acre property, has not filed a bid but persons aware of the revival effort said the Karan Adani-led unit was watching the Haldia offer closely.
The offer from Haldia, submitted on October 10, will soon be deliberated by the lenders committee with dues, including interests, exceeding Rs 9,800 crore.
