ONGC drops plans of HDPE unit at proposed project at Dahej

26-Feb-08
Oil and Natural Gas Corporation (ONGC) has reduced the projected cost of proposed mega-petrochemical plant at Dahej, Gujarat, by Rs 1100 crore. The project was initially configured with a styrene butadiene rubber (SBR) and a dedicated HDPE (high-density polyethylene) unit that have now been removed in view of current market demand-supply dynamics. This reconfigures the cost of project to Rs 12440 crore, approved by the company board. The project is being implemented by subsidiary ONGC Petro Additions Ltd (OPAL). ONGC has management control with 26% stake in OPAL.
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