IOCL, Total form JV to make, market bitumen derivatives in India
State-run oil refining and marketing company Indian Oil (IOCL) has formed a joint venture (JV) with Paris-based energy firm Total for the manufacturing and marketing of bitumen derivatives for the road construction industry. The JV will set up manufacturing units across the country and will explore possibilities to cater to other South Asian markets.
“The operations of this JV would commence by taking over an existing plant of Total at Jodhpur and subsequently set up new greenfield plants,” IOCL chairman Shrikant Madhav Vaidya said.
