A non-PSU joint venture company ONGC Petro Additions Ltd (OPAL) is setting up a Rs 12,440-crore project in the area. ONGC holds 26 per cent equity stake in OPAL while GSPC holds 5 per cent.
A senior official said that while they have received interest from the three players they are yet to finalise on the technology partner. "These companies could be interested in equity tie-up but so far they have shown interest only for technology," the official said.
Recently, PetroChina Petrochemical Company selected Dow's Unipol polypropylene process technology for its new 300 KTPA (kilo tonnes per annum) polypropylene facility in China. Reliance Industries has also selected the Unipol technology for its 900 KTA polypropylene production facility in its Jamnagar special economic zone (SEZ).
Ineos, one of the world's five largest chemical companies with sales of about $45 billion, is a leading global licenser of polyolefin, polystyrene, nitriles, vinyls and chlor-alkali technologies.
Meanwhile, 80 per cent work on ONGC's C2+ extraction plant, has been completed and is expected to be commissioned by September 2008. The plant will act as a feedstock to the petrochemical complex.
The company aims to sell the feedstock to companies like IPCL till its petrochemical complex starts in 2012.
