 New
Delhi: Indian
Oil Corporation is planning to build a 120,000-barrel
per day refinery in Turkey with Calik Enerji. This was
announced by, IOC chairman S Behuria in New Delhi. The
refinery project is likely to be executed by a special
purpose vehicle, where IOC will pick up an equity stake,
he said.
He
disclosed that the MoU with Calik was expected to be
signed in early December, on the sidelines of a bilateral
meeting between Hilmi Guler, Turkey''s energy minister
and his Indian counterpart, Mani Shankar Aiyar.
According to Behuria, the MoU is expected to finalise
the details of the
refinery. Calik Enerji and IOC will also try to bid
jointly for oil in third countries. IOC is also keen
to enter the retail petroleum sector in Turkey added.
Calik
was IOC''s partner in an unsuccessful bid for a stake
in another Turkish refinery Tupras recently.
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