State-owned Oil and Natural Gas Corporation to infuse Rs 15,000 crore in OPaL

State-owned Oil and Natural Gas Corporation (ONGC) will infuse about Rs 15,000 crore in OPaL as part of a financial restructuring exercise that will see gas utility GAIL being edged out of the petrochemical firm.

ONGC currently holds a 49.36 per cent stake in ONGC Petro-additions Ltd (OPaL), which operates a mega petrochemical plant at Dahej in Gujarat. GAIL (India) Ltd has 49.21 per cent interest and Gujarat State Petrochemical Corp (GSPC) has the remaining 1.43 per cent.