ONGC to borrow Rs 100 bn for its two arms

Two subsidiaries of Oil and Natural Gas Corporation (ONGC) will borrow over Rs 100 billion in a month,

ONGC Petro-additions (OPaL), a special purpose vehicle which is establishing a petrochemical project in Dahej, will raise Rs 80 billion; while ONGC Tripura Power Company (OTPC) will borrow Rs 20 billion. ONGC holds 26% and 50% equity interest in OPaL and OTPC, respectively.