The Union petroleum ministry has advised ONGC to
divide its Rs.25,000 crore SEZ project at Mangalore into fragments that would be
implemented by different oil PSUs.
The various MoUs signed between ONGC and the
Karnataka government on 30 August 2004 would be deemed to have been signed on
behalf of other oil PSUs, it is learnt. The MoUs involved setting up of a
special economic zone at Mangalore having an LNG storage terminal, a
petrochemicals project and a power plant.
It is likely that the LNG storage terminal would
be implemented by Mangalore Refinery & Petrochemicals (MRPL) along with HPCL.
The petrochemicals project would be undertaken by MRPL alone. Suitable partners
are being identified for the power project.
While ONGC would continue to hold equity in these
project, it would not be the "sole implementing agency."