Trilegal, SAM act on Total-Indian Oil Corporation Joint Venture for bitumen production and marketing

French energy giant Total S.A. and State-run Indian Oil Corporation (IOC) have formed a 50:50 joint venture to manufacture and market high-quality bitumen derivatives and specialty products for the growing road-building industry in India.

Trilegal acted for Total S.A. and the team was led by Partner Delano Furtado along with Senior Associate Gavin Pereira and Associates Aparna Menon and Jagata Swaminathan.

The Competition Law aspects were led by Nisha Kaur Uberoi, Partner and National Head of Competition practice, Counsel Akshay Nanda and Associate Gajendra Bhansali.

Tax team was led by Samsuddha Majumder, Partner and Komal Dani, Counsel.

The Corporate Secretarial aspect were worked upon by Rajesh Modani, Principal Consultant; and Nikita Shrimal, Consultant.

Shardul Amarchand Mangaldas acted for IOCL and the team was led by Partner Neelakantan VR.

The operations of the JV are proposed to commence by taking over an existing plant of Total India at Jodhpur and would then set up six new greenfield plants at Panipat, Koyali, Haldia, Barauni, Visakhapatnam and Chennai in the first four years.