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Saudi Aramco to venture into India

Tuesday, 27 Aug 2013
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Saudi Aramco plans to enter India with the intention of acquiring stake in the petrochemicals complex project at Dahej in Bharuch district of Gujarat.

For the purpose, the company is in talks with ONGC Petro Additions project developer, to acquire 30 per cent stake in the project. ONGC Petro Additions (OPaL), is a JV between Oil and Natural Gas Corporation (ONGC), and Gujarat State Petroleum Corpn (GSPC).

The project is estimated to cost Rs 21,396 crore. It will include 1.1 million tpa dual-feed ethylene cracker along with associated units and polymer plants with a final product line of HDPE, LLDPE, PP and SBR. It will be integrated with the C2/C3 extraction plant and naphtha from its operational units at Hazira and Uran, thereby ensuring sustainability of feedstock and leveraging cost advantages

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