09 December 2010 02:38 [Source: ICIS news]
"The company has narrowed the list of potential contractors to 12 and will select the winner soon," the source said on the sidelines of the 5th Gulf Petrochemicals and Chemicals Association (GPCA) forum being held in
The shortlisted bidders include:
Besides ONGC (Oil and Natural Gas Commission) which holds a 26% stake, OPaL’s current shareholders include Gail India with a 19% stake, and Gujarat State Petroleum Corp (GSPC), which has a 5% share. The remaining 50% stake is being offered to strategic investors.
Units downstream of the cracker include a 340,000 tonne/year high density polyethylene (HDPE) unit, two swing lines of HDPE/linear low density (PE) of 360,000 tonnes/year each, a 340,000tonne/year polypropylene (PP) plant and a 95,000tonne/year butadiene unit.
The three-day annual GPCA forum runs through 7-9 December.
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