Chatterjee Group Seeks Indian State Oil Firms’ Partnership for $10 Billion Project
- US firm in talks with ONGC, HPCL for oil-to-chemicals project
- India ramping up petrochemical capacities as demand grows
Fuel pumps at a Hindustan Petroleum Corp. gas station in Mumbai, India
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
US-based private equity firm The Chatterjee Group is seeking to partner with Indian state-run companies for its oil-to-chemicals project in the nation, according to people familiar with the matter.
TCG is in talks with Oil & National Gas Corp. and its unit Hindustan Petroleum Corp. for the planned project estimated at more than $10 billion in the southern Indian city of Cuddalore in Tamil Nadu, the people said, asking not to be identified as the discussions are private.