ONGC To Pick 26% In Dahej SEZ

Ahmedabad, Sept 28: | Updated: Sep 29 2003, 05:30am hrs
Oil and Natural Gas Commission has agreed to be an equity partner of Gujarat Industrial Development Corporation for setting up the Dahej Special Economic Zone in south Gujarat, officials said.

As per the MoU, ONGC will pick up 26 per cent equity and will be responsible for the infrastructure development of the SEZ, sources added. Also, ONGC and GIDC will together look for a third party developer, who has the necessary experience of such projects and who could be offered a majority share in the proposed SEZ company, they said. PTI

GIDC vice-chairman and managing director Hasmukh Adhia said ONGC has also agreed to put in an investment of Rs 4,000 crore in a new project of cracking of C-2 hydrocarbon, which will be located at Dahej SEZ.