Mega overseas proposed petrochem JV between GAIL and RIL takes a back seat

03-Aug-10

GAIL India’s plan to set up a mega gas-based petrochemical overseas plant in joint venture with Reliance Industries (RIL) has taken a back seat as the state-run gas major has decided to double capacity at its Pata petrochemical plant to 900,000 tpa with an investment outlay of Rs 8,200 crore. The expansion is scheduled to take 42 months for completion, but GAIL will venture to commission the unit in just 3 years. Though GAIL and RIL had short-listed a few countries, they have deferred their mega JV project in view of the global situation. Qatar, Iran, Algeria, Nigeria and Russia were shortlisted for exploring the possibility of setting up a 1.9 mln tons plant.