The Oil and Natural Gas Corporation (ONGC) hopes to increase its capacity for producing petrochemicals by investing Rs 1 lakh crore by 2030. This will involve constructing new facilities for the direct synthesis of compounds from crude.
By doing this, it is intended to more than double to eight million tpa the combined petrochemical capacity of MRPL and OPaL by 2030. Two massive projects will be built as part of the development plan, one on each of the coasts on the east and west. These facilities will either use crude oil directly to make chemicals or alternative feedstocks. The petroleum that ONGC produces in the nation may also be used as feedstock for its facility for converting crude oil into chemicals.
ONGC’s plans are likely to be implemented by its subsidiary, Mangalore Refinery and Petrochemicals (MRPL), and its joint venture (JV) ONGC Petro additions (OPaL).
