State-run oil marketer Bharat Petroleum Corporation (BPCL), which is setting up its first propylene unit in Kochi, said it was ready to offer 51 per cent stake in the Rs 6,000-crore project to its Korean joint venture partner LG Chemicals.

‘We have already inked an MoU (memorandum of understanding) with LG Chemicals for this project. They are looking at 51 per cent stake in the JV (joint venture) and we are open to that. The JV company will be in place by December or January and the plant will be commissioned by the end of financial year 2017,” BPCL Finance Director S Varadarajan said.