Home / Knowledge / News / Textiles / ONGC, GAIL seek stake in Kochi petrochem project
ONGC, GAIL seek stake in Kochi petrochem project
Oct '12
Oil and Natural Gas Corporation (ONGC) and GAIL (India) are much interested in acquiring a stake in the Kochi petrochemical project.
The Rs. 50 billion project is being jointly implemented by Bharat Petroleum Corporation Limited (BPCL) and South Korea based LG Chemicals, BPCL Chairman and Managing Director RK Singh said while addressing media after the Petrotech Conference.
While LG Chemical holds a 51 percent stake, the rest 49 percent stake is with BPCL, he said. However, he added that the holding structure of the complex is yet not final, as they have yet not taken a decision of introducing more partners.
He added that LG has been delegated the task of developing the petrochemical complex.
Establishment of the petrochemical complex would take place alongside the Kochi refinery’s Rs. 145 billion capacity enhancement drive, aimed at enhancing the refinery’s capacity from existing 9.5 million tons to 15.5 million tons by 2015-16. 
The refinery’s expansion would see establishment of a 10.5 million ton crude distillation unit, a 4.3 million ton diesel hadrotreater, a 3.48 million ton delayed coker, a 3 million ton vacuum gasoil hydrotreater and a 2.2 million ton fluid catalytic cracker (FCC) unit, having an annual propylene production capacity of around 2.15 million tons.
As a part of the project, a petrochemical fluid catalytic cracker capacitated to produce 500 tmtpa of propylene would be set up, which would extend a base to BPCL, enabling it to expand into petrochemical space. On completion, this cracker would be merged with the refinery expansion project. 
Mr. Singh said upon its likely completion by December 2015, the petrochemical project would go functional by March 2016. The complex would aid production of high-value items like absorbent polymers, which find utility in production of diapers and acrylic acid, which are not produced in India at present.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Michael Kors

Fashion | On 25th Jul 2017

Michael Kors to acquire Jimmy Choo

Global fashion luxury brand Michael Kors Holdings Limited has reached ...

Apparel/Garments | On 25th Jul 2017

VF Corp posts $2.4 billion revenue for Q2 2017

VF Corporation has recorded revenue of $2.4 billion, up 2 per cent,...

Textiles | On 25th Jul 2017

Egypt signs agreement with UNIDO for cotton production

Egypt has signed a €1.5 million ($1.74 million) cooperation agreement ...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Planning to Take the Leap towards

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search