Oil & Natural Gas Corporation has planned to invest Rs.75,000 crore in a series of initiatives by 2009-10. The overall plan entails expansion of refining capacity from 13 million tpa to 45.5 million tpa.

• A new 15 million tpa integrated refinery cum petrochemicals project at Mangalore SEZ at a cost of Rs.30,000 crore (Rs.15,000 crore for the refinery and Rs.15,000 crore for the petrochemicals complex)
• Execute two greenfield refineries of 7.5 million tpa capacity each at Barmer in Rajasthan (Rs.9,000 crore) and at Kakinada in Andhra Pradesh (Rs.10,000 crore).
• To increase the capacity of its existing Mangalore Refinery & Petrochemicals (MRPL) from 12.69 million tpa to 15 million tpa with an investment of Rs.8,000 crore and Rs.4,000 crore will be spend in building a aromatic complex at Mangalore.
• To construct an Olefins Complex at Mangalore with an investment of Rs.12,000 crore.

ONGC is in talks with Exxon-Mobil for a tie up for its new export oriented refinery at Mangalore SEZ and is also in talks with Exxon for jointly bidding of blocks offered under NELP VI. The new refinery will be set up in a strategic partnership with a global oil company and will be based on public-private partnership model.

Also See:

MRPL proposes Rs.12,800 crore refinery upgrade project (16-Feb-06)