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ONGC to raise Rs1,671 crore for associate firm OPaL

ONGC to raise Rs1,671 crore for associate firm OPaL

Tuesday, March 28, 2017, 10:06 AM

State-run Oil and Natural Gas Corp. Ltd (ONGC) plans to raise Rs1,671 crore for its associate company, ONGC Petro additions Ltd (OPaL). ONGC holds 49.36%, GAIL (India) Ltd 49.21% and Gujarat State Petroleum Corporation (GSPC) 1.43% stake in OPaL, as of March 2016. ONC Petro additions Ltd (OPaL) operates a $4.5 billion mega petrochemicals complex in Dahej SEZ in Gujarat.
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