By Olivia Bugault

Total SA said Monday that it has formed a 50-50 joint venture with Indian government-owned oil-and-gas company Indian Oil Corp. Ltd. for the manufacturing of bitumen derivatives.

The venture will provide bitumen derivatives and specialty products for the road-building industry in India, the French oil major said.

"The new joint venture will combine the R&D and marketing strengths of both Indian Oil and Total to manufacture and market innovative bitumen formulations and superior quality products such as polymer-modified bitumen, crumb rubber modified bitumen, bitumen emulsions and other specialty products," Total said.

Write to Olivia Bugault at olivia.bugault@wsj.com

(END) Dow Jones Newswires

July 27, 2020 09:22 ET (13:22 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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