VOL. XL

No. 50

15-December-1997

KUWAIT

Indian Approval For Joint Venture Orissa Refinery Delayed, Says IOC

The state-owned Indian Oil Corporation (IOC) announced on 8 December that governmentapproval for the construction of a grassroots refinery at Orissa on the east coast ofIndia as a joint venture with the Kuwait Oil Corporation (KPC) will be delayed for aperiod of two months. The statement was made in the wake of the announcement last week byIndia's Public Investment Board (PIB) that the...