Assam Petrochemicals build methanol, acetic acid facilities in India

Assam Petrochemicals to build methanol, acetic acid facilities in India

9:30 AM, 21st August 2012
Assam Petrochemicals to build methanol, acetic acid facilities in India
Assam Petrochemicals Ltd plant in Dibrugarh, Assam, India.

GUWAHATI, INDIA: Assam Petrochemicals Limited (APL), an Indian public sector unit, is planning to set up a 500 tpd methanol plant and 200 tpd acetic acid plant with an investment of more than Rs 10.28 billion ($184 million). APL currently produces 100 tpd methanol and 100 tpd formalin, which is marketed in Eastern and Northern India as well as being exported to Bhutan, Nepal and Bangladesh.

“We expect to make the units operational by 2015. The technology provider for the methanol plant has been already finalised while we are in the process of finalising a technology provider for the acetic acid plant. It will take 36 months for the methanol plant to come while it will take 24 months for setting up the acetic plant. We in India are just producing 36 per cent of the methanol requirement and 29 per cent of the acetic acid requirement,” said Ratul Bordoloi, Managing Director, Assam Petrochemicals, while speaking to the Indian business newspaper, Economic Times.

There is huge market for acetic acid and methanol products in India and the country is presently importing them, said Bordolo. APL is also hopeful that OIL will join the project. Bordolo informed that out of Rs 10.28 billion ($184 million), Rs 7.34 billion ($ 131.5 million) will be pooled as a bank loan while the Assam Gas Company Limited, Assam government and Oil India Limited will provide Rs 2.9 billion ($52.7 million).

Despite a beginning marked by a struggle for survival, APL is a profit making, dividend paying industry of the Government of Assam. It also the first company in the North Eastern region to have a public issue, listed in Bombay Stock Exchange and Guwahati Stock Exchange.

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