11 January 2012 09:00 [Source: ICIS news]
NEW DELHI (ICIS)--?xml:namespace>
GAIL India holds a 19% stake in OPaL. The other partners are Oil and Natural Gas Corp (ONGC) with a 26% stake and Gujarat State Petroleum Corp (GSPC) with a 5% share. The remaining 50% stake is offered to strategic investors.
The new facilities will consist of a 340,000 tonne/year high density PE (HDPE) unit, two swing HDPE/linear low density PE (LLDPE) lines with a capacity of 360,000 tonnes/year each and a 340,000 tonne/year PP plant.
GAIL India will be marketing 400,000 tonnes/year of PE and 130,000 tonnes/year of PP produced by OPaL which will account for 38% of OPaL’s total production, the source said.
Meanwhile, the construction of OPaL’s 1.1m tonne/year naphtha and gas dual-feed ethylene cracker unit at Dahej is expected to be completed by the end of 2012, ahead of the downstream derivative plants, the source added.
Additional reporting by Malini Hariharan and Ong Sheau Ling
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