Acetic Acid Plant in Gujarat – BP Indian Oil Joint Venture

Acetic Acid Plant in Gujarat – BP and Indian Oil Joint Venture

1:11 AM, 29th November 2011
Acetic Acid Plant in Gujarat – BP and Indian Oil Joint Venture

MUMBAI, INDIA: BP PLC (BP) and Indian Oil Corporation have come together for a joint venture to construct an acetic acid plant in western India.

The two firms signed a memorandum of understanding to invest in a one million ton per annum acetic acid plant together with allied gassification facilities for the production of synthesis gas. The unit will be set up in the state of Gujarat.

The project is expected to come online in 2015. The final output from the plant has uses in pharmaceuticals, petrochemicals and paints, among others. The plant would use BP's Cativa XL technology and petroleum coke feedstock from Indian Oil.

According to sources, India’s current supply-demand gap for acetic acid is nearly 600,000 tons, with only Gujarat Narmada Valley Fertilisers Company having a production capacity of 160,000 tons per annum.

As a result, both BP and Indian Oil will be vastly benefited when the plant becomes operational as demand for acetic acid is likely to be high.


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