Kolkata: ONGC Mangalore Petrochemicals Ltd (OMPL) has invited expression of interests (EoI) from companies for setting up downstream units of its proposed aromatics plant at Mangalore SEZ.
OMPL is promoted by ONGC and its subsidiary Mangalore Refinery and Petrochemicals Ltd (MRPL).
The company is setting up an aromatics unit slated to produce 920,000 tonne per annum (tpa) of Paraxylene and 140,000 tpa of Benzene. OMPL has already appointed the project management consultant (PMC) and also finalised the process licensor.
Stakeholding
OMPL will hold 49 per cent equity in the project, scheduled to be commissioned by end 2010. The balance equity will be offered to public or strategic partners. The aromatics plant will use naphtha and reformate - supplied by MRPL - as feedstock.
In a tender floated on October 9, OMPL has invited EoIs from interested Indian as well as foreign parties for setting up purified terephthalic acid (PTA) and other downstream facilities using paraxylene (for PTA) and benzene as feedstock.
Evacuation
Downstream apart, to ensure evacuation of aromatics, the company has also asked the interested parties to submit proposals for lifting paraxylene and benzene on a long term basis for trading or further processing. The last date of submission of EoIs is October 31.
MRPL is presently producing approximately 12 million tonne per annum (mtpa) refined products from its 9.69 million tonne (designed capacity) refinery located at Mangalore. A project is under implementation to increase the refining capacity to 15 mtpa.
The company has also entered into retailing of petroleum products and is expected to set up close to 10-15 outlets in this fiscal. With a recent agreement for evacuation of its refined products on a long term basis and execution of a few value addition projects at its refinery, MRPL has also witnessed an improvement in its margins in recent months.
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