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October 31, 2007 13:34 IST
Oil and Natural Gas Corporation said on Wednesday it is in talks with London-based Hindujas for jointly developing a Rs 24,000-25,000 crore (Rs 240-250 billion) refinery at Kakinada in Andhra Pradesh.
"We are in the last stage of sensitivity studies and a decision on the project will be taken by November end," ONGC [Get Quote] Chairman and Managing Director R S Sharma told reporters.
The decision on a strategic partner will be taken after the study is completed.
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