GAS-BASED petrochemical complexes in India would be hit hard by the proposed hike in natural-gas prices in India, according to internal cost estimates prepared by Gail (India). The Ministry of Petroleum has proposed increasing the price of gas from 75% of the price of imported fuel oil-subject to a ceiling of Rs2850/1000 std m~3-to 100%. The proposal is being studied by a Group of Ministers formed in December 2002.
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