The Hindu : Karnataka / Mangalore News : Special economic zone to come up in Mangalore

Online edition of India's National Newspaper
Monday, Dec 20, 2004

Karnataka

Karnataka - Mangalore

Special economic zone to come up in Mangalore

By Our Staff Correspondent

MANGALORE, DEC. 19. The Union Ministry of Petroleum and Natural Gas has assured the Kanara Chamber of Commerce and Industry that the coastal special economic zone promoted by the Oil and Natural Gas Corporation (ONGC) will be set up in the city. In a letter to A. Srinivas Rao, president of the chamber, Sanjay Joshi, joint secretary in the ministry, said everything will be done to set up the zone and the Bangalore petrochemical complex. The ministry has requested the State Government to explore the feasibility of setting up the projects through agencies, including public sector units, having core competence in these fields.

The ministry is in touch with the Chief Secretary, the chairmen and managing directors of the ONGC, Hindustan Petroleum Corporation Ltd. and Gas Authority of India Ltd., the president of Mangalore Refineries Private Ltd. and the chief executive officer and managing director of Petronet LNG Ltd. to discuss investments.

Mr. Joshi said the ministry believed that exploration and production functions of the ONGC should not be ignored for taking up other such projects which can be done by other entities. The corporation needs to put in efforts to explore oil and gas in the frontier basins of the country. The ONGC has been advised that it should limit its role to that of a facilitator for oil companies to take up projects.

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