BPCL, Matrix Marine to form JV in Singapore

New Delhi, Sep 23: PSU major Bharat Petroleum Corporation Ltd (BPCL) will form a 50:50 joint venture (JV) company with US-based Matrix Marine Fuels LLC in Singapore.

The board of BPCL has approved the proposal of formation of JV Company with Matrix Marine Fuels LLC in Singapore (primarily for expanding bunkering business) with equal participation by both the companies, a company statement said.

Matrix Marine Fuels is in the bunker-fuels business, including marketing, operations, supply, and administration. Its customers include shipping agents, charter carriers, shipping companies, and agents.

UNI