ONGC to infuse Rs 15,000 crore in OPaL
Thu, Sep 7, 2023 5:36 PM

ONGC to infuse Rs 15,000 crore in OPaL

A Flip by Bhavya Sabharwal
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ONGC will invest Rs 15,000 crore in OPaL to help restructure it financially. This will raise ONGC's stake to 95%, while GAIL and GSPC will own 5%. The move comes after OPaL has faced cost and time overruns when the plant was originally projected to cost Rs 12,440 crore, but ended up costing Rs 30,000 crore. It also had accumulated losses of over Rs 13,000 crore by 2023.  

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