Nocil project still on despite Shell's exit
National Organic Chemical Industries (Nocil; Bombay) intends to go ahead wit hthe Rs60-billion ($2.1 billion) expansion project at its Thane, Maharashtra site, despite Shell's decision to withdraw its 33.3% stake in the company. Nocil has set up a task force to reappraise the project. It is due to report to the company's board and shareholders around April. A decision will then be taken on how to proceed and whether to seek another overseas partner. According to Dharam, Nocil has two options: to prune the project and reduce the size of investment; or to move ahead as planned, but more slowly. If the second option is chosen, the project might evolve in two stages, the first for completion over five years, the second over the following three years. The 300,000-m.t./year cracker, which forms the centerpiece of Nocil's expansion, could even be part of the second stage, says Dharam, with Nocil expanding its terminal units to import ethylene and propylene feedstock at first.
- OSTI ID:
- 7094222
- Journal Information:
- Chemical Week; (United States), Vol. 152:3; ISSN 0009-272X
- Country of Publication:
- United States
- Language:
- English
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020700* - Petroleum- Economics
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