Dubai (Platts)--29Nov2012/434 am EST/934 GMT
Mangalore Special Economic Zone Ltd, which is dedicated to setting up new petrochemical companies in Mangalore, India, has attracted three businesses which plan to invest a total of $1.8 billion in new plant construction over the next three years, MSEZL's CEO Rajiv Banga said Wednesday. "About 35-40 companies are expected to set up their plants at the MSEZL in the first phase over an area of 1,800 acres," Banga said on the sidelines of Seventh Annual Gulf Petrochemicals and Chemicals Association forum in Dubai. "The investment figure is expected to rise further," he added. "Most of these companies are downstream converters who will use aromatics, solvents and LPG as feedstocks," Banga said. "Arrangements have been made that these companies can set up and operate their plants on a 'plug and play' basis." The MSEZL is also setting up a 10 km direct pipeline-cum-road corridor connecting its units to New Mangalore Port.Article continues below...Request a free trial of: Asian PetrochemicalscanAsian Petrochemicalscan provides weekly market updates, commentary and assessments ranging from naphtha feedstocks to aromatics, olefins, and polymers in Southeast Asia, Korea, Taiwan and Japan.
Mangalore Special Economic Zone Ltd, which is dedicated to setting up new petrochemical companies in Mangalore, India, has attracted three businesses which plan to invest a total of $1.8 billion in new plant construction over the next three years, MSEZL's CEO Rajiv Banga said Wednesday. "About 35-40 companies are expected to set up their plants at the MSEZL in the first phase over an area of 1,800 acres," Banga said on the sidelines of Seventh Annual Gulf Petrochemicals and Chemicals Association forum in Dubai. "The investment figure is expected to rise further," he added. "Most of these companies are downstream converters who will use aromatics, solvents and LPG as feedstocks," Banga said. "Arrangements have been made that these companies can set up and operate their plants on a 'plug and play' basis." The MSEZL is also setting up a 10 km direct pipeline-cum-road corridor connecting its units to New Mangalore Port.
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Asian Petrochemicalscan provides weekly market updates, commentary and assessments ranging from naphtha feedstocks to aromatics, olefins, and polymers in Southeast Asia, Korea, Taiwan and Japan.
ONGC Mangalore Petrochemicals Ltd, or OMPL, which is the anchor tenant at the MSEZL is currently constructing a 920,000 mt/year paraxylene and 270,000 mt/year benzene plant at the complex. The plant's startup is due for April 2013. --Shashank Shekhar, shashank_shekhar@platts.com --Edited by Maurice Geller, maurice_geller@platts.com
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