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Indian Oil unit may buy 50% in Fourth Partner
Mint Ahmedabad
|October 16, 2025
$400mn deal may mark Indian Oil's first acquisition in green energy
Indian Oil Corp., the country's largest crude oil refiner, plans to acquire a 50% stake in renewable energy firm Fourth Partner Energy Pvt. Ltd (FPEL) through its subsidiary Terra Clean Ltd in a deal with an estimated equity value of about $400 million, according to two people aware of the development.
This story is from the October 16, 2025 edition of Mint Ahmedabad.
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