Financial Daily from THE HINDU group of publications
Tuesday, Jan 04, 2005
Financial Daily from THE HINDU group of publications Tuesday, Jan 04, 2005 |
|
|
|
|
|
Corporate
-
Announcements ONGC to finalise Dahej investment in 6 months Our Bureau
Kolkata , Jan. 3 ONGC will finalise its investment plans for the Dahej petrochemical project in the next 3-6 months. The company is currently in the process of identifying the project management consultant for its proposed Rs 900-crore methane and propane extraction plant, also at Dahej. Speaking to newspersons, Dr. A.K. Balyan, Director (HR, Business Development & Joint Ventures), said that ONGC was actively pursuing its investment plans in the Dahej special economic zone (SEZ) in Gujarat. The SEZ is jointly promoted by the Gujarat Industrial Development Corporation and ONGC. "We are investing both as a promoter of the SEZ and as well as in our upstream facilities," he said. "We are close to awarding the consultant contract for the methane/propane extraction plant and expect to release the engineering project construction contracts in the next six months." ONGC has already tied up with Petronet LNG Ltd for supply of liquefied natural gas from its Dahej terminal for extraction of methane and propane, which will have further applications in petrochemicals and in the production of LPG. According to available estimates, the petrochemicals project will require Rs 4,000 crore worth of investment. Apart from using methane and propane, the project will also use naphtha produced by MRPL. On its proposed Rs 25,000-crore investment in the SEZ at Mangalore in Karnataka, Dr Balyan said that discussions were under way on the project. "The Karnataka Government has shown immense interest in the project." It may be mentioned that the Union Ministry of Petroleum and Natural Gas had previously described ONGC's proposal to float SEZs in Mangalore and Kakinada, in Andhra Pradesh, and a gas-based power project in Tripura as investment in "non-core areas".
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|