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INDIAN STATES SEEK PETROCHEM INVESTMENT POTENTIAL WITH ONGC.

AsiaPulse News

| January 01, 2008 | COPYRIGHT 2008 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

NEW DELHI, Jan 1 Asia Pulse - Four Indian states, including Andhra Pradesh and Gujarat, have applied to set up special petroleum and chemical investment hubs in their states, most of them listing Oil and Natural Gas Corp (BSE:500312) as the key investor.

ONGC's proposed Rs 260 billion (US$6.6 billion) Kakinada refinery and an adjacent Rs 50 billion polyprophylene unit will be anchor investments for the Petroleum, Chemical and Petrochemical Investment Region (PCPIR) proposed by Andhra Pradesh between Visakhapatnam and Kakinada, official sources said.

According to the PCPIR application submitted by the Andhra Pradesh Government, gas from ONGC's fields in offshore Krishna Godavari basin were also to land in the proposed region.

Karnataka's application to the Centre for a PCPIR in ...

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