RIL, HPCL-Mittal Energy, Jindal group among JBF Petro suitors
Reliance Industries, an HPCL-Lakshmi Mittal joint venture and two Jindal group companies are among seven entities that have shown interest in buying bankrupt JBF Petrochemicals, a purified terephthalic acid (PTA) manufacturer with outstanding debt of ₹4,700 crore, according to multiple sources.
Others said to be in the running are a consortium of ONGC NSE -4.61 % and Indian Oil NSE -0.09 %, GAIL NSE -0.86 %, and MCPI, a Kolkata-based company that is the second largest producer of PTA in the country after Reliance Industries NSE -1.07 %. The two Jindal group companies include one run by Naveen Jindal and the second by his uncle BC Jindal.
