The Indian Government has offered the Kuwait Government a stake in ONGC's Rs 12,440-crore petrochemical plant at Dahej in Gujarat.

ONGC is keen to rope in an overseas company who can either bring technology or marketing support for its plant that is to be completed by February 2012. ONGC holds 26 per cent stake in ONGC Petro-additions (OPaL), the SPV formed for setting up the chemical complex at the Dahej SEZ. Gujarat State Petroleum Corporation holds five per cent stake and GAIL has 19 per cent. A foreign firm may be given 20-25 per cent.

The complex will comprise global scale cracker and downstream polymer plants. OPaL is to use C2-C3 (ethane and propane) compounds extracted from imported LNG to make polymers. ONGC is looking for a company who can sell the polymers the plant makes.

Also, Kuwait has been offered a stake in a one million tonne petrochemical plant planned at Paradip.

Also See:

INEOS mulls plant at Dahej SEZ (30-Mar-10)