IOC, Calik to submit final bid in Petkim race

15 June 2007 15:27  [Source: ICIS news]

MUMBAI (ICIS news)--Indian Oil Corporation (IOC) along with Turkey’s Calik group will submit their final joint bid for the Turkish government’s majority stake in petrochemicals company Petkim by 25 June, a source close to IOC said on Friday.

 

“The date for [the] submission of final bids has been finalised and we are very much in the race. There are still 18 bidders... but we are quite hopeful of winning,” the source added.

 

IOC and Calik had earlier submitted a joint pre-qualifying bid for the Petkim stake.

 

If the pair are successful, IOC will contribute 51% of the funding required for picking up the Petkim stake, with the remaining 49% coming from Calik.

 

 

By: Divya Chowdhury
+65 6780 4359

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