It is learnt that Oil & Natural Gas
Corporation will undertake both
Kakinada Special Economic Zone and an
export-oriented refinery project in Kakinada.
Initially, ONGC was proposed to invest
about Rs.12,000 crore but has now revealed plans to invest about Rs.22,000 crore
in the 15 million tpa refinery project.
The port-based SEZ will be developed
by ONGC, IL&FS and Kakinada Seaports Ltd, consortium. The master plan will be
ready by March 2007 and the financial closure for the SEZ is likely by October
2007.
Also See:
ONGC to re-conside
its plans to shelve Kakinada refinery project (22-Feb-07)