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03-07-2014

ONGC's petrochemical complex to be ready in Q1 2015

ONGC Petro Additions Ltd, $4B integrated petrochemical complex in Dahej,is scheduled to be commissioned in the first quarter of 2015, a top company executive said today.

"This complex, located in Dahej Special Economic Zone (D-SEZ), is one of the largest of its kind in the country," OPAL Chief Executive Officer K Satyanarayan told PTI on the sidelines of a chemicals industry event here. "The complex will consist of a dual feed cracker unit and associated facilities with a capacity to produce 1.1 million tonne of ethylene and 400,000 tonne of propylene annually," he said.

State-run energy giant ONGC established OPAL in 2006 as a special purpose vehicle for construction of the Dahej complex. The construction started in 2009 and is scheduled to be completed in the first quarter of 2015, Satyanarayan said.

"It will significantly boost the petrochemical sector besides generating about 1,000 permanent and 15,000 direct and indirect jobs. The entire project is estimated to cost about US $ 4 billion," he said.

The complex will supply about 50 per cent of its products to overseas markets such as Africa, China, Vietnam, Malaysia, Indonesia, Singapore, Turkey, Pakistan, Bangladesh and Sri Lanka, Satyanarayan added.

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