The companies, which are headed by close associates of the country"s outgoing President Olusegun Obasanjo, won the bid over UK-based international steel baron Lakshmi Niwas Mittal, who bid $550 million.
Blue Star emerged the winner in open bidding conducted last weekend in
Sources at Indian government-owned refiner Hindustan Petroleum Corp. Ltd. (HPCL) said Mittal originally had planned to bid for the 210,000 b/d refinery with HPCL, but instead bid it alone when HPCL decided against investing in the facility.
The Indian-born Mittal earlier this year had accepted a 49% stake in HPCL"s proposed $3.3 billion Bhatinda refinery to be built in Punjab, northwestern
PIN/OGJ.COM
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