Union petroleum and natural gas minister Mani
Shankar Aiyar on Sunday said ONGC should “rethink” its plans to invest
Rs.25,000 crore in a petrochemical complex in Mangalore and instead focus on its
“core competence” of exploration and production of crude oil.
The minister also added that the Karnataka
government should also involve other oil firms including private petrochemical
units in the proposed special economic zone (SEZ).
Stating that the Union government supported the
project, techno-economic feasibility and due diligence would be carried out
before finalizing the investment.