As per market source, Kuwait’s Petrochemical Industries Corporation is close to acquiring a 45% stake in ONGC Petro Additions Limited (OPaL) olefins unit in India. Opal Dual Feed Cracker unit is located at Dahej in Gujarat and has production capacity to produce Ethylene around 1.1 million mt/year, Propylene around 400,000 mt/year while Benzene extraction unit around 150,000mt/year.
At present OPaL is a joint venture between India’s Oil and Natural Gas Corporation, Gujarat State Petrochemical (GSPC) and Gas Authority of India Ltd.(GAIL).
