SABIC in Talks with ONGC to Buy Approximately 50% Stake in OPaL

摘要

New Delhi-Saudi Basic Industries Corp. (SABIC) recently held talks with India's Oil and Natural Gas Corp. (ONGC) about acquiring an approximately 50% stake in ONGC Petro additions Ltd. (OPaL), operator of India's "biggest" petrochemical plant in Gujarat, Reuters reported. OPaL's complex includes a 1.1-million-t/y ethylene cracker, 400,000-t/y propylene plant, 720,000-t/y linear low- and high-density polyethylene (PE) swing line, 340,000-t/y polypropylene unit and a 340,000-t/y dedicated high-density PE plant, as well as a 95,000-t/y butadiene and 135,000-t/y benzene unit (PCN, 12 Mar 2018, p 3).