Profit

Mittal plans to set up refinery in Nigeria

PUBLISHED ON: January 5, 2008 | Duration: 2 min, 42 sec

  
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NDTV has learnt that HPCL-LN Mittal Group may set up two refineries in Nigeria with a capacity of 2 lakh barrels per day. Sources say the Nigerian National Petroleum Corporation will hold 40 per cent stake and other partners will hold majority equity in the refineries. The risk involved in Nigeria range from political instability to outright violence but right now analysts are not too worried.
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