IOC seeks bids for PTA-grade acetic acid

24 March 2008 17:35  [Source: ICIS news]

NEW DELHI (ICIS news)--Indian Oil Corporation (IOC) is seeking global bids for the purchase of 30,000 tonnes of acetic acid for use as an intermediate for producing purified terephthalic acid (PTA) at its aromatics complex at Panipat in Haryana State, the company said on Monday.

The company said the last date of receipt of tenders would be 22 April. It advised bidders to “quote best possible firm prices” in the specified schedule rate format. “Any unilateral revision of price (unless asked by IOC) during process may render your offer liable for rejection,” it added.

The selected bidder would be required to keep its offers valid for staggered delivery for one year from the date of supply of first parcel. The monthly requirement would be about 3,000 tonnes.

The aromatics complex has capacity to produce 550,000 tonnes/year of PTA, 360,000 tonnes/year of paraxylene and 20,000 tonnes/year benzene.

For more on acetic acid visit ICIS Chemical Intelligence

By: Naresh Minocha
+65 6780 4359

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