ONGC may offer stake in petchem plant at Dahej to GAIL, Petronet LNG

13-Feb-09

GAIL could be offerd a 15-20% stake by Oil and Natural Gas Corp in the under construction petrochem project at Dahej, Gujarat to be set up by ONGC Petro additions Ltd (OPaL). Petronet LNG could also get a 5% stake in the project and upto 25% of the project may be offloaded through a public offer within 18 months. The plant is expected to have an annual capacity of 1.1 million tonnes of ethylene, 340,000 tonnes of propylene, 135,000 tonnes of benzene and 95,000 tons of butadiene. ONGC will supply feedstock for the project from its plants at Hazira, Uran and Dahej. OPaL, promoted by ONGC and Gujarat State Petroleum Corp (GSPC), is expected to complete the project by 2012.