OPaL explores IPO route to part-finance Rs 12,500 cr Dahej petrochemical complex

ONGC Petro-additions (OPaL) is exploring the option of a public issue (IPO) to part-finance its Rs 12,500 crore petrochemical complex at Dahej, Gujarat. The complex has been planned with a capacity to produce 1.1 mln tpa of petrochemicals. The petrochemicals special purpose vehicle of Oil and Natural Gas Corporation is considering several fund-raising avenues, including Petronet LNG’s interest in a 10% stake in the project. ONGC holds a 26% stake, GAIL (India) holds a 19% stake, the Gujarat Government (through GSPC) holds 5% stake in OPaL.
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