Nitin Fire Protection Industries invests Rs 13 crore in NELP

Mumbai, Apr 18 (UNI) Nitin Fire Protection Industries Limited (NFPIL) has picked up a ten percent stake in crude oil block in Rajasthan under the New Exploration and Licensing Policy (NELP-VI) of the Union Government.

NFPIL, an established company in fire protection, safety, security and Intelligent Building Management System (IBMS) along with High Pressure Seamless Cylinder and Refuelling Systems, has joined hands with major petroleum companies, which are engaged in exploration and prospecting of crude oil block in Rajasthan.

The cost of operating the oil block is estimated at about US$ 30.67 million out of which the company's share works out to US$ 3.07 million (over Rs 13 crore).

UNI