Mangalore Refinery and Petrochemicals Limited (MRPL) is set to invest ₹12.5 crore in a newly approved joint venture company. This strategic move, announced on 27 April 2026, involves a collaboration with Oil and Natural Gas Corporation Limited (ONGC) and ONGC Petro additions Limited (OPaL), with shareholding distributed in the ratio of 50:25:25 among ONGC, MRPL, and OPaL, respectively.
The joint venture aims to integrate petrochemicals marketing across the group companies, enhancing synergy in marketing operations. The collaboration is expected to reduce costs and increase revenue by improving pricing mechanisms, logistics, and grade optimisation, alongside the production of speciality grades.
Furthermore, the joint venture is poised to create opportunities for third-party sales, addressing the nation’s import dependency in specific petrochemical sectors. This development is pending approval from the Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, Government of India.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).