The Hindu Business Line : Petrochem project at Dahej SEZ — ONGC may finalise feasibility report by next month-end

OIL and Natural Gas Corporation is expected to finalise the detailed feasibility report for the proposed petrochemicals project at the Dahej special economic zone (SEZ) in Gujarat by the end of next month. According to available estimates, the petrochemicals project will require investments of Rs 4,000 crore.

Informed sources in ONGC said that the work has already begun to identify the right technology for the project. Tenders for identifying the technology partners are likely to be issued by June this year.

Meanwhile, implementation of the Rs 900-crore Methane-Propane (C2-C3) extraction plant, also at Dahej SEZ, is well on schedule. The SEZ is promoted jointly by ONGC and Gujarat Industrial Development Corporation (GIDC). The project management contract has been given to Foster Wheeler. ONGC has already tied up with Petronet LNG Ltd (PLL) for supply of LNG from its Dahej terminal for extraction of C2 and C3.

While propane (along with naphtha produced by Mangalore Refinery and Petrochemicals Ltd) will primarily serve as feedstock for the petrochem project, the company has plans to produce LPG using a portion of the C2-C3 extraction capacity.

While capacity expansion of MRPL to 15 million tonne has already been finalised, the company has launched a feasibility study on setting up a second C2-C3 extraction facility at Mangalore.

The project is likely to be finalised by June.

Sabbatical scheme to rationalise excess staff

ONGC has finalised a sabbatical scheme to rationalise its excess manpower.

Targeted at employees in the 40-45 year age group, the scheme will offer a monthly package of basic plus HRA and lumpsum medical benefit to those who will be allowed to go on a sabbatical for a period of five to seven years.

The scheme is expected to be more successful than the voluntary retirement scheme which attracted a poor response.

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