Online edition of India's National Newspaper
Thursday, Jun 22, 2006
Online edition of India's National Newspaper Thursday, Jun 22, 2006 |
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Karnataka
Special Correspondent
Bangalore: The country's biggest oil producer, Oil and Natural Gas Corporation Limited (ONGC), will make its petrochemical foray this week when Prime Minister Manmohan Singh lays the foundation stone for a Rs. 4,900-crore Aromatic Complex in Mangalore. "The Prime Minister will lay the foundation stone for ONGC's one million tonnes per annum capacity Aromatics (petrochemicals) Complex in Mangalore on June 23 (Friday)," a company official said. The petrochemicals complex project will be executed through a Special Purpose Vehicle (SPV) of ONGC in which the corporation will hold 46 per cent stake and its subsidiary, Mangalore Refinery and Petrochemicals Ltd., (MRPL) three per cent. The balance will be held by financial institutions and banks.
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