ONGC Petro-Additions
ONGC Petro additions Ltd. (OPaL) is an Indian petrochemicals company established in 2006 as a public limited company under the Companies Act 1956. It manufactures polymer, a chemical compound used in various products ranging from textiles to plastics. It is a joint venture between Indian Government-owned crude oil and natural gas corporation, ONGC, and GAIL.
History
ONGC Petro additions was incorporated in 2006. It is promoted by the Oil and Natural Gas Corporation (ONGC) and co-promoted by GAIL and GSPC.
ONGC owns 49.36% of shares in OPaL, while GAIL has 49.21% per cent and the remaining 1.43% per cent is held by GSPC.
The company has built a $4.5 billion petrochemical complex in Gujarat, which has the capacity to produce 1100 KTPA Ethylene and 400 KTPA Propylene. The project began its operation after the inauguration by Prime Minister Narendra Modi in March 2017.
The complex is part of the forward integration plans of ONGC. The majority of feedstock for OPaL is sourced from ONGC. The naphtha requirement is fulfilled by the processing plant of ONGC at Uran and Hazira.
History
ONGC Petro additions was incorporated in 2006. It is promoted by the Oil and Natural Gas Corporation (ONGC) and co-promoted by GAIL and GSPC.
ONGC owns 49.36% of shares in OPaL, while GAIL has 49.21% per cent and the remaining 1.43% per cent is held by GSPC.
The company has built a $4.5 billion petrochemical complex in Gujarat, which has the capacity to produce 1100 KTPA Ethylene and 400 KTPA Propylene. The project began its operation after the inauguration by Prime Minister Narendra Modi in March 2017.
The complex is part of the forward integration plans of ONGC. The majority of feedstock for OPaL is sourced from ONGC. The naphtha requirement is fulfilled by the processing plant of ONGC at Uran and Hazira.
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