PSU consortium in talks with OPAL for sourcing raw materials

The consortium formed by Gujarat Alkalies and Chemicals Ltd (GACL), Gujarat State Fertilizers and Chemicals (GSFC) and Gujarat Narmada Valley Fertilizer Company (GNFC) is in talks with ONGC Petro Additions Ltd (OPAL) for sourcing raw materials.

All the three public enterprises have formed a joint venture to set up a petrochemical complex in the Dahej SEZ for an investment of Rs 10,000 crore.

The proposed complex by the state PSU consortium will manufacture various downstream products such as phenol, bisphenol and polycarbonate, butyl rubber, PVC among others. The unit will require basic raw material such as ethylene, propylene.

It may be mentioned that GACL along with GSFC and GNFC had signed a memorandum of understanding during the Vibrant Gujarat Global Investors’ Summit-2009 held in January.

 

Discussions are on with OPAL and other potential suppliers for sourcing various raw materials and intermediates under a long-term contract for the project, according to a press release by GACL.