Kuwait Petroleum Corp (KPC) is in talks with Indian Oil Corp (IOC) for taking a stake in the state-owned firm’s Paradip refinery and a proposed petrochemical complex, PTI has reported. IOC, which will start commissioning the 15 million tonnes a year refinery at Paradip in Odisha in June, is willing to offer no more than 26% stake in the project. “We are discussing details of their participation, whether they are interested in taking a stake in the refinery or in the petrochemical project or both is what we are discussing now,” a senior IOC official said. “A team from Kuwait is expected to visit Paradip in coming weeks,” the official said.
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