VOL. XXXVIII

NO. 40

3-JULY-1995

Kuwait

Indian Government Approves KPC/IOC Proposal For Joint Refinery Project

The Indian Government has approved a proposal by the state-owned Indian OilCorporation (IOC) for the formation of a joint venture with the Kuwait PetroleumCorporation (KPC) to set up a new 120,000 b/d grassroots refinery at Orissa inEastern India at an estimated cost of IR39bn ($1.24bn). An Indian Governmentstatement on 27 June said that the Cabinet Committee on Economic Affairs has...