Mangalore Refinery and Petrochemicals Ltd. (MRPL) has increased its stake in ONGC Mangalore Petrochemicals Ltd. (OMPL) to 46 per cent from 3 per cent. In a BSE filing, MRPL said its board, on Monday, approved the acquisition of major stake in OMPL by purchasing fully paid-up equity shares from individual shareholders. Till recently, Oil and Natural Gas Corporation was holding 46 per cent and MRPL 3 per cent in OMPL. The balance 51 per cent was yet to be allotted. OMPL is jointly promoted by ONGC and MRPL for manufacturing 0.9 million tonnes per annum of paraxylene and 0.3 million tonnes of benzene from the aromatic streams of MRPL.
