Question : Which of the following statement is correct regarding IOC & TOTAL Joint-Venture ?
(a)This is a 50:50 joint venture
(b) The new JV will combine the R&D and marketing strengths of both IOC and Total to manufacture and market innovative bitumen
(c) The joint venture company will set up manufacturing units across the World.
(d)Only (a) & (b)
Answer : (d)
Related facts —
Context
- French energy giant Total SA and the country’s top oil firm Indian Oil Corp (IOC) on Monday(27 July 2020) announced a 50:50 joint venture to 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 IOC 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 joint venture company 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.
Background
- The government has a strong focus on developing the country’s road infrastructure with mega projects like ‘Bharatmala’ which envisages the development of 34,800 kms of roads at an estimated investment of over Rs 5 lakh crore in the first phase.
By — Pankaj Pandey
Link:
https://auto.economictimes.indiatimes.com/news/industry/indian-oil-frances-total-form-jv-to-make-superior-quality-bitumen/77213434