The Oil and Natural Gas Corporation of India (ONGC) is working out modalities to make its proposed refinery at the Kakinada Special Economic Zone (KSEZ) a reality. | |
| ONGC has held discussions with the officials of Kakinada Sea Ports Limited (KSPL) on issues relating to the refinery and the KSEZ. Another meeting is scheduled later this month. |
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| Addressing mediapersons after reviewing the performance of the Rajahmundry Asset here on Sunday, RS Sharma, chairman and managing director of ONGC, said the company had earlier proposed to set up a 7.5-million tonne per annum refinery at Kakinada, but later came to a conclusion that it would be best to enhance the production capacity of the proposed project to avoid chances of economic unviability. |
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| "We have always insisted on economic viability, and therefore have decided to double the capacity of the proposed refinery. We hope that a positive result would emerge out of our efforts and the refinery will become a reality," Sharma said. |
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| Referring to the Rajahmundry Asset, he said the capacity of the Tatipaka mini-refinery would be doubled from the present 66,000 tonne. The company has already invited tenders for the purpose. |
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| ONGC Rajahmundry Asset had given Rs 933.38 crore to the state government between 2001 and 2007. |
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| It spent Rs 74.92 crore in Krishna, West and East Godavari districts in the last two decades on infrastructure, laying and improving roads and bridges and towards socio- economic and community development. |
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