India’s top pharma and media barons are lining up to have a fill of the country’s oil blocks. Sun Pharma founder Dilip Shanghvi and media tycoon Subash Chandra are in the fray for the government’s oil and gas blocks auction.
While Shanghvi has made a bid through Sun Petrochemicals, Chandra has joined the auction through Essel Group Middle East, Business Standard reported on Wednesday. Sun is vying for seven fields — five in Gujarat and two in Mumbai offshore — and Essel Group is bidding for two fields in Assam and Gujarat.
The Directorate General of Hydrocarbons is likely to evaluate the bids in 20 days and then initiate the final bidding process, the paper said. DGH has invited bids for 46 areas and on Monday it received 134 bids for 34 contract areas.
Other bidders include Megha Engineering, Quippo, Gem Laboratories, Nippon Power, Invenire Energy, Ramayana Ispat, Oilmax Energy, Duggar Fiber and Mahindra Infrastructure.
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