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21 May, 2018 08:57 IST
Cabinet approves sale of Indian Oil's 24% stake in Lubrizol India
Source: IRIS | 16 Mar, 2017, 02.20PM
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The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Narendra Modi todaygave its in-principle approval topermit Indian Oil Corporation (Indian Oil) to sell its 24% equity in one of its Joint Venture Companies, Lubrizol India Private (LIPL) to Lubrizol Corporation, USA (LC), the other Joint Venture Partner.

The sale will enable IOC to have long term association with its joint venture partner and thus LIPL to have access to the latest global additive technologies developed by Lubrizol Corporation, USA.

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