{"id":291299,"date":"2019-09-12T06:43:40","date_gmt":"2019-09-12T06:43:40","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=291299"},"modified":"2019-09-12T06:43:40","modified_gmt":"2019-09-12T06:43:40","slug":"ongc-considers-buying-out-rest-of-petrochemical-project","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ongc-considers-buying-out-rest-of-petrochemical-project\/","title":{"rendered":"ONGC considers buying out rest of petrochemical project"},"content":{"rendered":"<p>SINGAPORE: India&#8217;s Oil and Natural Gas Corp plans to buy out the rest of a western Indian petrochemical project it does not already own and launch a public offering if it fails to find a strategic partner for it, its head of finance said on Tuesday.<\/p>\n<p>ONGCNSE 0.80 % Petro additions (OPaL), majority-owned by ONGC, is primarily a polymer manufacturer, a chemical compound used in everything from textiles to plastics and packaging.<\/p>\n<p>&#8220;We are looking at various options. Our first preference is to convert OPaL into a subsidiary by converting share warrants and debenture into equity if we don&#8217;t get a strategic partner,&#8221; Subhash Kumar, ONGC&#8217;s director of finance told Reuters. &#8220;Another option is to merge OPaL with ONGC.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SINGAPORE: India&#8217;s Oil and Natural Gas Corp plans to buy out the rest of a western Indian petrochemical project it does not already own and launch a public offering if it fails to find a strategic partner for it, its head of finance said on Tuesday. ONGCNSE 0.80 % Petro additions (OPaL), majority-owned by ONGC, is primarily a polymer manufacturer, a chemical compound used in everything from textiles to plastics and packaging. &#8220;We are looking at various options. Our first preference is to convert OPaL into a subsidiary by converting share warrants and debenture into equity if we don&#8217;t get [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-291299","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/291299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=291299"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/291299\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=291299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=291299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=291299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}