GP Petroleums Approves JV with West Coast Oils and Acquires Amron Oil

K N Mishra

11/Apr/2025

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GP Petroleums Limited forms a 50:50 joint venture with West Coast Oils LLP to expand in the bitumen market using an existing non-related entity.
The JV will operate via acquisition of Amron Oil Resources Pvt Ltd, a non-operational company, with both partners investing equally in equity and unsecured loans.
The board also approved acquiring shares of Amron Oil for ₹10,000 in cash; the JV plans to revive the company to tap infrastructure-led bitumen demand.

The Joint Venture will acquire 50% of Amron Oil Resources Private Limited, a company that has ceased its operations for the last three years. The transaction involves the acquisition of 5,000 equity shares, at a price of INR 2 per share, amounting to a total consideration of INR 10,000.

While Amron Oil has not been active recently, its acquisition will enable GP Petroleums to further consolidate its operations in the petroleum and petrochemical sectors. The acquisition is subject to statutory approvals and is expected to be completed within 30 days.

This joint venture with West Coast Oils LLP is a significant move for GP Petroleums, as it aligns with the company’s long-term strategy of expanding its footprint in the specialty bitumen market. By combining resources and leveraging expertise, both companies are poised to enhance their market share and capitalize on the burgeoning infrastructure sector in India.

In conclusion, the formation of this joint venture marks an important step forward for GP Petroleums in diversifying and strengthening its business portfolio. The deal is expected to bring substantial growth opportunities in the specialty bitumen segment, benefiting from the increasing demand for high-quality bitumen products.

The Board of Directors of GP Petroleums has authorized the company to proceed with the execution of the Share Purchase Agreement, with both parties equally contributing to the formation of the Joint Venture Company.

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GP Petroleums Approves JV with West Coast Oils and Acquires Amron Oil

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