India's Oil and Natural Gas Corp. needs to raise financing from the markets to the scale of Rs 150 bln (US$3.1 bln) for its projects that are currently underway. Six months would be the idyllic time frame for the company to wait for a recovery in the financial conditions, failing which, the future of the two projects could be in jeopardy. The company is setting up a petrochemical project at Dahej, as well as a power plant in the northeastern state of Tripura. The ethylene plant has been planned with a capacity to produce 1.1 mln tpa of ethylene, and is scheduled to come online in 2013.
17-Oct-08 
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