Oil and Natural Gas Corporation (ONGC) has announced a mega plan of investing Rs 75,000 crore in the refining business over the next 4-5 years. The plans include a new 15 million tpa export oriented integrated refinery cum petrochemical project at Mangalore SEZ at a cost of Rs 30,000 crore (Rs 15,000 crore for the refinery and Rs 15,000 crore for the petrochemicals complex). ONGC would spend another Rs 8,000 crore in expanding capacity of its existing Mangalore Refinery and Petrochemicals Ltd (MRPL) from 12.69 mtpa to 15 mtpa and Rs 4,000 crore in building a aromatic complex at Mangalore. Another Rs 12,000 crore has been planned for an Olefins complex at Mangalore.
In addition, ONGC would execute two greenfield refineries of 7.5 mtpa capacity each at Barmer, Rajasthan and Kakinada, Andhra Pradesh at Rs 20,000 crore. ONGC, which currently has a 13 million tonne per annum (mtpa) of refining capacity, plans to scale it up to 45.5 mtpa by 2009-10. All the new greenfield refining projects will be executed by forming new companies, which will eventually get listed.
17-Apr-06 
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