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Mangaluru: Possibility of MRPL merger with HPCL

  •   Fri, May 25 2018 09:08:42 AM

Daijiworld Media Network - Mangaluru (SP)

Mangaluru, May 25: There are indications that city-based Mangalore Refinery and Petrochemicals Ltd (HPCL) which is owned and operated by Oil and Natural Gas Corporation, may be merged with pubic sector Hindustan Petroleum Corporation Ltd (HPCL).

The merger of the behemoths if it happens, may open up a new trend for such mergers in future. As such, expectations are running high and the industrial sector is awaiting further developments on the merger move with bated breath.

The rumour mills went agog on the basis of a statement made in New Delhi by HPCL chairman and managing director, M K Surana, in which he said that his company has evinced interest in acquiring MRPL, which is owned by ONGC. Currently HPCL has oil processing units at Mumbai and Visakhapatnam whereas in some areas it buys products from MRPL and supplies the same to consumers. If the merger happens, HPCL management thinks, it can bring down operational costs considerably by streamlining its operations, reports say.
  

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Comment on this article

  • Honnappa, Byadagi

    Fri, May 25 2018

    A move by central government to less competition to prime sponsor of present union government.

    DisAgree Agree Reply Report Abuse

  • Kiran D Souza, Mangalore

    Fri, May 25 2018

    Do anything, but we Mangaloreans need the Jobs, give us the jobs. We have been deprived of our jobs which are going to North indians, Malayalees, Tamilians, Telugus..etc..etc... We need jobs, many of our educated youth are unemployed here. We have been forced to move out of our land in search of jobs in other cities and in foreign countries despite having good education. We have good education but whatever jobs available here are not available to us. What a tragedy.....

    DisAgree [2] Agree [5] Reply Report Abuse

  • Joyson, Kadri

    Fri, May 25 2018

    Bad idea....not needed.

    DisAgree Agree [3] Reply Report Abuse


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Title: Mangaluru: Possibility of MRPL merger with HPCL



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