ONGC, Indian Oil to make joint bid for JBF Petrochemicals.

ONGC and Indian Oil will submit a joint financial bid for JBF Petrochemicals, the former said in response to ET's queries on its interest to acquire the Mangalore-based bankrupt chemicals company under corporate insolvency process.

"ONGC has entered into a consortium with Indian Oil for the purpose indicated in your trailing email and is likely to submit a financial bid shortly," an ONGC spokesperson said in an email reply. 

ET