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India’s MRPL to acquire all shares at its OMPL subsidiary

by ChemOrbis Editorial Team - content@chemorbis.com
  • 13/07/2015 (14:09)
According to a press release on the company’s website, India’s Mangalore Refinery and Petrochemicals (MRPL), has approved the integration and restructuring of ONGC Mangalore Petrochemicals Limited ("OMPL"). Accordingly, the company will increase its stake in the OMPL joint venture, which it runs in collaboration with Oil and Natural Gas Corp. MRPL currently holds a 51% stake in OMPL while ONGC holds the remaining 49%.

OMPL, which is currently under construction, is located at the Mangaluru Special Economic Zone adjacent to MRPL’s 15 million tons/year refinery, and houses an aromatics complex for production of PX and benzene. The complex is expected to have a production capacity of 900,000 tons/year of PX and 300,000 tons/year of benzene.
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