ONGC approves Indian complexes

Minocha, Naresh; Gordon, Michael
October 2006
ICIS Chemical Business;10/30/2006, Vol. 1 Issue 41, p29
Trade Publication
The article reports that the board of directors of India's Oil and Natural Gas Corp. (ONGC) have approved the incorporation of two joint ventures to set up petrochemical complexes at Dahej in Gujarat state and at Mangalore in Karnataka state. The joint for the Dahej project will be called ONGC Petroadditions Ltd. in which ONGC will hold a 26% equity stake. Gujarat State Petroleum Corporation will hold a 5% stake and the balance of 69% will be offered to strategic partners and financial institutions.


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