Indian Oiltanking was an equal joint venture between Indian Oil Corporation (IOCL) and Oiltanking GmbH, Germany, formed in 1996 to provide storage and logistics solutions for crude oil and petroleum products. On November 9, APSEZ, the flagship transportation arm of Adani group and India's largest private ports and logistics company, bought Oiltanking's 49.3% stake in the joint venture for ₹1,050 crore.from Industry-Economic Times
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