GAIL Cuts ONGC Petro-Additions Stake; Cites Increase in Project's Investment

摘要

New Delhi— GAIL India is reducing its equity interest in ONGC Petro-Additions (OPAL) from the 19% it initially acquired to 11.6% because the cost of the complex being built in Dahej, India, has continued to rise, according to Economic Times. OPAL's complex will'have the capacity to produce 1.1-million t/y of ethylene, 340,000 t/y of propylene, 720,000 t/y of linear low-and high-density polyethylene, 340,000 t/y of polypropylene, 95,000 t/y of butadiene and 135,000 t/y of benzene (PCN, 2 Sept 2013, pi). Production is expected to begin in 2015.