NORL declines offer of partnership on stalled Cuddalore refinery

Nagarjuna Oil Refinery Ltd. (NORL) has ended discussions with Netoil (Singapore) (Pte.) Ltd. for the sale of its interest in subsidiary Nagarjuna Oil Corp. Ltd. (NOCL) in a deal that would have advanced the long-stalled construction of NOCL’s planned 6 million-tonne/year refinery at Cuddalore, Tamil Nadu, about 180 km south of Chennai, India, on the Bay of Bengal.

Source: News