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OVL opens GIFT City treasury hub to efficiently consolidate funds
Mint Mumbai
|January 11, 2024
ONGC Videsh Ltd has incorporated a wholly owned subsidiary called OVL Overseas IFSC Ltd in Gujarat’s GIFT City that will function as a treasury hub catering to OVL and its 25 subsidiaries, including step-down subsidiaries, across 15 countries.
"...OOIL expects to efficiently consolidate funds available with the group in various countries and raise additional funds needed to achieve the ambitious target of producing 40 million metric tonnes oil and oil equivalent (MMToe) by 2040 from overseas assets," ONGC Videsh said in a statement on Wednesday.
OOIL will act as ONGC Group’s gateway to the world for its overseas ventures and investments, the company said.
Cette histoire est tirée de l'édition January 11, 2024 de Mint Mumbai.
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