ONGC plans to implement a mega project at Dahej in Gujarat, for a global scale petrochemicals complex at an investment of Rs 136 billion. Capacity at the complex is to comprise of 1.1 million tpa of ethylene capacity dual feed cracker, along with associated units and polymer plants, to manufacture HDPE, LLDPE, PP and Styrene Butadiene Rubber (SBR). The complex will be integrated with ONGC's own C2-C3 plant, which is currently under execution at Dahej, and naphtha as feedstock from ONGC's operational units at Hazira and Uran.
The project is proposed to be implemented through a SPV route, in which, ONGC, with 26% equity stake (at Rs 9920 mln), will have management control. Gujarat State Power Corporation (GSPC) has expressed interest to participate in the project as a joint venture partner.
ONGC's Petrochemicals Complex, as the anchor industry, will be built in the Dahej Special Economic Zone (D-SEZ), with assistance from the Gujarat Government through participation of its nominee GIDC as a co-promoter. This would help to optimize the project cost and help to develop various plastic processing industries within the SEZ to seize significant export market potential.
11-Aug-06 
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