Ineos, Mitsui, Mitsubishi vying for stake in ONGC's Dahej project

03-Jul-08
Ineos, Mitsubishi Chemicals and Mitsui Chemicals are among the multinational companies in the fray for a stake in the Rs 12,500-crore ONGC Petro Additions (OPaL), ONGC's mega petrochemical complex in Dahej, Gujarat. OPaL is also considering an equity tie-up with Petronet LNG (PLL). ONGC holds a controlling 26 % equity share in OPaL, which is evaluating a number of partners, and the proportion of the equity tie-up will be less than 26%. Over 90% of the work on ONGC's C2+ extraction plant is expected to be commissioned by this year. The unit will act as a feedstock provider to the petrochemical complex.
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