The ONGC Board, in today's meeting, has
also approved the following initiatives:
Incorporation of ONGC Petro-additions Ltd. (OPaL):
Following up on its earlier approval (on 8th August 2006) to
implement a global scale Petrochemicals Complex within
Dahej SEZ
through a SPV company, the ONGC Board approved the incorporation
of the SPV of Dahej Petrochemicals
Complex.
The company - named as ONGC Petro-additions Ltd. (OPaL) - will
have 26%
equity participation of ONGC, 5% by GSPC(Gujarat州石油会社 )and balance by strategic
investors and Financial Institutions. With this approval, OPaL
will embark on a fast-track implementation of the mega
Petrochemicals Project involving an estimated investment of Rs.
13,600 Crore along with global scale cracker and downstream
polymer plants. This will be commissioned around mid 2010,
catalyzing significant economic development in Western India and
the country as a whole.
2010/2/11 plastemart.com
ONGC Petro-Additions Innovene PP Process for Dahej Complex
INEOS Technologies has licensed its ‘Innovene PP Process’
for the manufacture
of polypropylene homopolymers, random and impact copolymers and
the ‘Innovene G Process’
for the manufacture
of linear low density and high density polyethylene to ONGC
Petro additions Limited (OPaL).
The 340,000
tpa Innovene PP
plant and the two 360,000 tpa Innovene G plants will serve the growing
demand inside and outside India for household and industrial
plastic products. The plants will be located in Dahej Special
Economic Zone of Petroleum, Chemical and Petrochemical Investment
Region (PCPIR) in the State of Gujarat, India. Start up is
targeted for December, 2012.