e:
(a) whether the Government has decided to hand over Baroda
unit of IPCL to IOC; and
(b) if so, the steps taken so far in this direction?
e:
(a) whether the Government has decided to hand over Baroda
unit of IPCL to IOC; and
(b) if so, the steps taken so far in this direction?
THE MINISTER OF STATE IN THE MINISTRY OF CHEMICALS &FERTILIZERS (SHRI TAPAN SIKDAR)
(a) and (b): The Government had earlier decided that the Vadodara
unit of Indian Petrochemicals Corporation Limited (IPCL), after proper
valuation, be transferred to the Indian Oil Corporation (IOC). Due to
the wide variation in the perception of the two companies about the
valuation of the Vadodara complex, they could not arrive at a mutually
acceptable valuation. The proposal was, therefore, dropped.