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Saturday, May 12, 2001

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FIPB clears RIL divestment in RPL

NEW DELHI: The Foreign Investment Promotion Board (FIPB) has cleared Reliance Industries' proposal to divest 13 per cent of its 64 per cent equity in Reliance Petroleum, which operates the world's largest refinery, to foreign investors. When contacted, industry ministry sources confirmed that Reliance proposal was amongst the host of proposals cleared by FIPB at its meeting here but declined to give details.

- PTI

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