Rs 60,000 crore capex announced by GAIL
State-owned energy corporation GAIL has announced a capex of Rs 60,000 crore. The investment would go into setting up a 1500 KTA ethane cracker project in Madhya Pradesh. Ethane, a component of natural gas, will be converted into ethylene for plastics, adhesives, and more.
The project awaits state government enablers and proposes a 70-hectare township. Groundbreaking is expected by February 2025, with production starting in 2030-31. GAIL aims to import ethane for the project and is looking to sign an MoU with ONGC and Shell Energy India.
Also Read: New Green Hydrogen Plant Inaugurated By GAIL In Vijaipur