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.

 

© WOC News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Borouge- Shaping the Future with Plastics

ABU DHABI, UNITED ARAB EMIRATES: Borouge is a leading provider of innovative plastics solution, serving customers throughout the Middle East, Asia-P ...

Read more
Strategic Partnership between China XLX Fertiliser and Primavera Capital

HONG KONG, CHINA: China XLX Fertiliser Ltd has announced that Primavera Capital Group has agreed to subscribe its convertible bonds worth approximat ...

Read more
Borealis offers GPN to acquire PEC-Rhin

VIENNA, AUSTRIA: Borealis, a leading international provider of chemical and innovative plastics solutions and a major player in fertilizers in Centr ...

Read more
Solvay Group to develop its activities in reduction of greenhouse gas emission

BRUSSELS, BELGIUM: Solvay announced that it is acquiring a joint venture with Société Générale’s equity interest ...

Read more
Development of New medication for Cancer

LICHTENBERGSTR, GERMANY: Proteasomes are large protein complex, carries out vital function in the cells of the body. Similar to a recycling plant, i ...

Read more
Electrodes with nanoparticles of copper to make battery more efficient and durable

CALIFORNIA, US: Stanford researchers have used nanoparticles of a copper compound to develop a high-power battery electrode that is inexpensive, eff ...

Read more