The Kuwaiti Petroleum Corporation (KPC) is interested in purchasing a 26% stake in 2 Indian petrochemical plants, according to the Press Trust of India and news site Fibre2fashion.
The plant at Dahej in Gujurat is worth $3.47 billion, whilst the smaller plant in Mangalore is valued at $0.93 billion. Both plants are owned by the Indian Oil and Natural Gas Corporation (ONGG)
A KPC delegation participated in the recently held International Oil and Gas Conference and Exhibition (Petrotech-2014) in the city of Noida, where the representatives from the firm expressed their desire to buy a stake in the ONGC-owned petrochemical plants.
Currently, ONGC holds 26 percent stake in ONGC Petro-additions Ltd, which was formed for setting up the petrochemical plant in the special economic zone (SEZ) of Dahej,
The Kuwaiti national oil company has also shown interest in buying stakes in the Bharat Petroleum Corporation Limited’s (BPCL) proposed chemical unit at Kochi in Kerala.
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