IHS Chemical Week

Regions :: India/Pakistan

Gail's stake in Opal drops since project faces cost overruns and delays

6:59 AM MDT | June 16, 2014 | Natasha Alperowicz

Gail India will cut its equity stake in ONGC Petro-additions’ (Opal, Vadodara) world-scale petrochemical project at Dahej, India, from 19.0% to 11.6 %, since the project faces major cost overruns, local media reports today. Gail, in 2008–09, acquired a 19% stake in Opal, the construction of which is near complete. The project’s costs have escalated by 72%, from the original estimates of 124.4 billion Indian rupees ($2.08 billion) to Rs214 billion. Gail’s officials say that the company originally agreed to invest up to Rs10 billion in the...

This information is only available to Chemical Week subscribers.

Username:
Password:

Forgot your user ID or password?
Click here to have it sent to you.

Risk Free Trial

Email Address

First Name

Last Name

Click here to register and get your RISK-FREE access to chemweek.com

Not an IHS Chemical Week
24/7 member yet?

Here's why you should be:

  • Searchable online archive access of the last 2 years of Chemical Week.
  • Print or digital magazine subscription
  • Price and market change alerts
  • Economic data and statistics
  • Buyers' Guides
  • Webcasts | whitepapers

 

 

 













 
contact us | about us | customer care | privacy policy | sitemap | advertise

ihsCopyright © 2014 IHS, Inc. All rights reserved. Reproduction in whole or in part without permission is prohibited.

North Asia Russia Southeast Asia China India/Pakistan Middle East Eastern Europe Western Europe Central America Canada USA Australia/New Zealand South America Africa