OPAL

ONGC petro additions limited (OPAL), formed as a joint venture enterprise incorporated in 2006, promoted by oil and natural gas corporation (ONGC) and co promoted by Gas Authority of India Ltd. (GAIL) and Gujrat state petroleum corporation (GSPC) is close to commissioning its grass root mega petrochemicals project at Dahej,Gujrat. OPAL, founded as the Special Purpose Vehicle (SPV) to effect the vision of adding value through forward integration is also the proud anchor tenant of the very first petroleum, chemicals and Petrochemicals Investment Region (PCIR) of its kind in India.

The Chief Promoter, ONGC is the Premier Flagship Company in E&P in the Oil and Gas sector of India, accounting for over 80 percent of India’s Oil and Gas production finding 335thplace in fortune 500 and 152ndin Forbes Global 2000. It is also the only company from India to feature in the Fortune magazine’s list of the world most admire companies (2007). The co-promoter GAIL, is also India flagship natural gas company, which operates in complete natural gas value chain from exploration and production to marketing through superlative gas infrastructure. GSPC in India only state government owned company in the oil and gas exploration and production owned company in the oil and gas exploration and production (E&P) business. The formidable trio, coming together to steer the venture, redefined the advent of a new era in petrochemicals.

Financial investment has played an indelible part in this multi billions venture. Built with best of the technologies, the petrochemical complex stands testimony to an investment of over USD 4.5 Billions. The megalith mother south Asia ‘a largest dual feed cracker with the capacity of 1100 KTPA ethylene capable of producing wide spectrum of petrochemicals through integrated downstream units.

Complex is strategically integrated with C2/C3extraction unit of ONGC offering distinct competitive advantage with respect to feedstock securitization.