Market cap of 22m, Bharat invested 13.5m in 2010.
Announcement in Nov '12.
BPCL’s decision to progress its investment in the Arrowsmith development is a major vote of confidence for the project.
Although terms have not been disclosed, the involvement of BPCL has potential to change the valuation dynamics of Northwest.
Even a starting investment will effectively underwrite Norwest by de-risking development of the project along the way.
BPCL - what next?
has anyone spoke to peter or the office?, page-32
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