CCEA approves sale of IOC’s 24% equity holding in Lubrizol India Private Limited

The Cabinet Committee on Economic Affairs (CCEA) has allowed Indian Oil Corporation Limited (Indian Oil) to sell its 24% equity in one of its Joint Venture Companies, Lubrizol India Private Limited (LIPL) to its other Joint Venture Partner Lubrizol Corporation, USA (LC). 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, US.

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