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Total & Indian Oil Form JV to Offer Bitumen Derivatives in India

Gasoil News - Published on Thu, 30 Jul 2020

Image Source: Total Indian Oil Bitumen
India’s largest refiner and marketer of petroleum products Indian Oil Corporation and Total announced the formation of a 50:50 Joint Venture (JV) company that will manufacture and market high-quality bitumen derivatives and specialty products for the growing road-building industry in India. The new JV will combine the R&D and marketing strengths of both Indian Oil and Total to manufacture and market innovative bitumen formulations and superior quality products such as polymer-modified bitumen, crumb rubber modified bitumen, bitumen emulsions and other specialty products. The JV will set up manufacturing units across the country with cost-effective logistics solutions, keeping innovation, safety and sustainability at the helm of its operations. The JV will also explore possibilities to cater to other South Asian markets.

The Government of India has a strong focus on developing the country’s road infrastructure with mega projects like the ‘Bharatmala project’ which envisages development of 34,800 km of roads at an estimated investment of over INR 5 lakh crore in the first phase. The demand for aggregate material and manufactured material for the highway construction and rehabilitation sector in India is very high, especially for good-quality bitumen derivatives. The IndianOil and Total JV will offer high-spec products using sustainable technologies.

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Posted By : Yogender Pancholi on Thu, 30 Jul 2020
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