Aromatics complex to come up with Rs. 4800 crores
Hyderabad, April 16, 2006The India's largest oil and gas exploration and production and refinery group Oil and Natural Gas Corporation Limited (ONGC) said on Sunday that it be the another tenant along with Mangalore Refineries and Petro chemical Limited at a special economic zone in Mangalore at an estimated cost of Rs. 45,000 crores.
The SEZ will have a refinery, petrochemical units, an LNG unit and a power generating facility said Subi Raha, Chairman of ONGC. He said ONG and MRPL had approved a capital expenditure of Rs.8000 crores from MRPL's integrated refinery project. The boards also approved the setting up of an aromatics complex at an investment of Rs. 4,800 crores. The ONGC group posted a net profit of Rs. 15,485 crores in the year 2005-06 up by 5.9 per cent from the previous year. ONGC along posted a net profit of Rs. 14,175 crores an increase of 9 per cent over the last year.
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