Indias leading refiner and marketer of petroleum products Indian Oil Corporation, has announced the formation of a 50:50 Joint Venture (JV) company with energy giant Total for bitumen derivatives.
- The new 50:50 Joint Venture (JV) company will manufacture and market high-quality bitumen derivatives and specialty products for the growing road-building industry in India.
- The JV will set up manufacturing units across the country with cost-effective logistics solutions
- Total is the leading bitumen manufacturer and supplier in Europe, while Indian Oil is the largest player in the Indian bitumen market.
The recent investments and agreements by Total are featured below:
June 2020: Total, has signed an agreement with Siemens Gas and Power, a wholly owned subsidiary of leading technology company Siemens AG to advance new concepts for green liquified natural gas (LNG) production.
June 2020: The wind energy leader Total has announced an agreement with SSE Renewables, to acquire a 51% stake in the Seagreen 1 offshore wind farm project in Scottish waters of UK North Sea.
May 2020: The leading oil and gas company Qatar Petroleum announced a farm-in agreement with Total to acquire a 45% participating interest in blocks CI-705 and CI-706, located in the Ivorian-Tano basin, offshore the Republic of Côte d’Ivoire.
April 2020: TOTAL S.A announced that its step-down subsidiary has invested approximately $486 million for 50% partnership with Adani Green Energy Limited (AGEL) in a Joint Venture (JV) in India. The JV houses 2.148 GW operating solar projects across 11 states in India.
Total is a global energy player, based in France. Total produces and markets fuels, natural gas and low-carbon electricity. Totals 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Total is active in more than 130 countries.