Oil and Natural Gas Corporation (ONGC), the country's leading public sector company, is planning an initial public offer (IPO) of ONGC Petro-additions Limited (OPaL), the special purpose vehicle formed for the Rs 13,500 crore petrochemical complex at Dahej in Gujarat. The IPO will be planned after the finalsation of the other equity partner or partners to the project - possibly by early next year.
ONGC holds 26% equity in OPaL and Gujarat State Petroleum Corporation (GSPC) holds 5% stake.
The global-scale petrochemical plant, scheduled to come up by 2010, will have a 1.1 million tpa ethylene capacity dual feed cracker, along with associated units and polymer plants.
27-Oct-07 
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