Committee set up to scout for new Petronet-India chief

Vol 3, PW 26 (02 Feb 00) News in Brief

A three-member committee has been set up to find a replacement for Luv Chhabra as chief executive of Petronet-India.

Chhabra resigned amid disagreement with three state-owned refiners (IOC, BPCL and HPCL), which together own 48% equity in Petronet-India, a state-owned holding company set up by to oversee the construction of product pipelines in India. The new selection committee is made up of Bharat Petroleum Chairman U Sundararajan, Joint Secretary (Refineries) Shivraj Singh, and Ravi Parthasarthy, Managing Director of Infrastructure Leasing and Finance Services (ILFS).

Petronet-India was set up following a government decision to discourage the construction of multiple pipelines. The company is presently overseeing the construction of 8 new product pipelines across India.

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