IndianOil hopeful of finalizing consortium in Turkey project
New Delhi   01-Jan-2008
IndianOil is hopeful of reaching a consensus with its consortium partners over stake-holding pattern and management control in the proposed $4.9 billion refinery at Ceyhan in Turkey in January. This would clear the last hurdle before the company to launch the feasibility report and make future progresses towards project implementation. While Calik Holding of Turkey is IndianOil's local partner in the proposed project, ENI of Italy and KazMunayGas (KMG) of Kazakhstan have already confirmed their intention to participate in the project According to sources, on behalf of the IndianOil-Calik joint venture the Turkish company is currently spearheading the negotiation with ENI and KMG for finalization of the consortium.