ONGC plans to invest Rs 20 billion in two petrochemical projects

Oil and Natural Gas Corporation Limited (ONGC) is planning to invest Rs 20 billion for setting up two petrochemical plants across the country. Currently, it is looking for land for setting up the projects. The projects would either be set up independently or as a joint ventures (JV). Besides, it is also planning to set up two greenfield oil to chemical plants in the country for converting crude oil to petrochemicals. The company aims to expand its chemical and petrochemical portfolio from the present 4.2 mtpa to 8 mtpa by 2030.