ONGC Petro additions Ltd (OPaL) is the venture ONGC floated for downward integration and expansion into petrochemical field by utilizing its naphtha stream from Hazira and Uran and C2+ components from imported LNG.
GAIL India said in its statement that the stake is being acquired from IL&FS Group companies - namely IL&FS Energy Development Company Ltd (EDCL) and IL&FS Financial Services Ltd (IFIN).
The National Company Law Tribunal has approved state-owned gas utility GAIL (India) Ltd's acquisition of bankrupt Infrastructure Leasing and Financial Services' 26 per cent stake in ONGC Tripura Power Company (OTPC), GAIL said on Friday. OTPC is a special purpose vehicle between Oil and Natural Gas Corporation (ONGC), IL&FS Group and Government of Tripura (GoT) for setting up