At a strategic meeting held in Bangalore, Oil and Natural Gas Corporation (ONGC) has cleared the first phase of the Rs 25,000 crore petrochemicals project to be commissioned in Mangalore. The project had earlier been delayed due to objection from Union Minister Manishankar Aiyar on grounds that the mix of power and petrochemical projects was not ONGC's "core competency". With Saturday's meeting, the first phase of the project has been cleared with an investment of Rs 13,000 crore.
The project includes an LNG terminal, power generation plant and a mega petrochemical complex in Mangalore.
01-May-06 
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