Incorporated in 1979, and promoted by Abhey Oswal, Oswal Agro Mills (OAML) has four divisions: sugar, petrochemicals (producing different olefin products), agro-producing triglycerides/oils/industrial hard oils, etc); and engineering projects (supplying power packages/ compressors on a turnkey basis). The principal business of the Company is trading/development of real estate, trading of goods etc. Further, it also lends its surplus funds as interest bearing inter-corporate deposits. In 1989, the company took over a petrochemicals and alchohol-based chemical complex of Union Carbide at Chembur, Bombay. The complex is India's first naphtha cracker unit to produce ethylene for captive consumption, and also for production of lo