Oil India To Take 18% Stake In JV For Assam Ammonia-Urea Plant

Oil India Ltd. on Wednesday said its board has approved an 18% equity stake in a proposed joint venture to establish a new ammonia-urea complex at Namrup in Assam.

The board has also cleared the incorporation of a wholly owned finance subsidiary at GIFT City in Gujarat. The entity will operate under the International Financial Services Centres framework, the company said in a filing to the exchanges.