OPaL plans to raise 20% of Dahej project cost from capital markets

ONGC Petro additions (OPaL), a joint venture between ONGC and Gujarat State Petroleum Corporation (GSPC), plans to raise atleast 20% of its investment outlay, a total of Rs 3,000-3,500 crore from the capital markets. OPaL is setting up a Rs 12,500 crore petrochemical complex at Dahej in Gujarat, proposed to be funded through a debt-equity ratio of Rs 8,700 crore and Rs 3,800 crore, respectively. The company plans to go public upon finalization of equity partners, in about 2-3 months. The petrochemical complex is expected to be ready by mid-2012.
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