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MRPL may opt for off-take pact for aromatic plant project
Mangalore Refinery and Petrochemicals Ltd (MRPL) may opt for strategic partner for long-term product off-take agreement at its proposed aromatic plant in Mangalore SEZ Ltd.
"They have shown interest in buying the proposed plant's entire paraxylene output," the spokesperson said.
The production capacity of the aromatic complex will be of 9,20,000 tonnes a year of paraxylene.
It may be noted here that the project is being implemented in Mangalore SEZ Ltd through OMPL.
While ONGC holds 46% in OMPL, MRPL holds 3%. The rest 51% of equity is with financial institutions.
The company was incorporated on December 19, 2006. The estimated capital expenditure of the complex will be Rs 4,852 crore.
The complex is expected to be completed in 48 months with February 9, 2007 as the start date. Toyo Engineering India Ltd is the project management consultant.
