In a bid to expand its petrochemicals manufacturing capacity, the Oil and Natural Gas Corp (ONGC) will invest Rs 1 trillion by 2030, a report by The Economic Times (ET) said. This is a part of the Centre’s larger plan to make India a major global petrochemical hub.
ONGC’s joint venture ONGC Petro additions Ltd (OPaL) and its subsidiary Mangalore Refinery and Petrochemicals Ltd (MRPL) will implement the expansion plans. The Maharatna company is targeting to double the production of these companies to 8 million metric tonnes per annum by 2030.
