BP, Indian Oil sign initial pact to build acetic acid plant in west India
11/23/2011 12:00:00 AM
By ERIC YEP
BP and Indian Oil Corp. Wednesday said they have signed an initial agreement to form an equally owned joint venture to build a 1 million tpy acetic acid plant in western India.
"A joint feasibility study is currently underway to confirm the exact configuration of the project, which would have a targeted start-up date in 2015," the companies said in a joint statement.
The plant will be located in Gujarat state. It will use technology from UK-based BP and include gasification facilities for the production of synthesis gas that will use petroleum coke feedstock from the Indian refiner, the statement said.
Dow Jones Newswires
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