JBF Petrochemicals inks paraxylene supply agreement with ONGC arm

JBF Petrochemicals inks paraxylene supply agreement with ONGC arm

6:16 AM, 18th April 2016
JBF Petrochemicals inks paraxylene supply agreement with ONGC arm
JBF Petrochemicals Ltd signs long term agreement with ONGC Mangalore Petrochemicals Ltd for supply of paraxylene, the main raw material for production of purified terephthalic acid (PTA).

MUMBAI, INDIA: JBF Petrochemicals Ltd, a step-down subsidiary of JBF Industries Ltd, has entered into a long-term agreement with ONGC Mangalore Petrochemicals Ltd (OMPL) for supply of paraxylene, the main raw material for production of purified terephthalic acid (PTA).

JBF Petrochemicals Ltd is in the process of commissioning a 1.25 million tonne per annum PTA plant, using technology from BP, at Mangalore SEZ, Karnataka. Paraxylene will be supplied by OMPL to JBF Petrochemicals Ltd, through a dedicated pipeline about 3 km in length.

The agreement entails supply of paraxylene for a period of 10 years, with provision of further increasing the period of supply by another 5 to 10 years by mutual consent. This agreement facilitates assurance of supply of raw material for the upcoming PTA project on a long term basis.

JBF Industries Ltd (JBF) manufactures polyester value chain products ranging from polyester chips, polyester yarn and films which are used in the fast-moving consumer goods, textile and packaging industries.

© Business Standard News

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