The Union Cabinet chaired by PM Narendra Modi has given its approval to state owned Bharat Petroleum Corporation Limited (BPCL) to invest Rs. 3,000 in Bharat Oman Refineries Limited (BORL). As BORL is planning for capacity expansion in BORL’s refinery in Bina, Madhya Pradesh.
The investment will enhance the availability of petroleum products in the Northern and Central parts of the country, industrial development of Madhya Pradesh and substantial increase in employment and tax earnings in the state.
The investment amount could be enhanced up to a maximum of Rs 3,000 crore by way of subscription of convertible warrants and convert it into equity shares issued by BORL.
So let’s discuss some questions related to this post :
1. Name the petroleum company which has got the approval to invest rs. 3,000 crore in BORL ?
2. In which state BORL’s refinery is planning to expand its capacity ?
Courtesy : Business Standard