GSFC estimates tentative methanol plant completion by October

24 March 2011 02:50  [Source: ICIS news]

SINGAPORE (ICIS)--Gujarat State Fertilizers & Chemicals (GSFC) expects the completion of its 165,000 tonne/year methanol plant in Gujarat, India, in October, a company source said on Thursday.

Some of the usable parts from scrapping of its ammonia plant will be used in the construction of the methanol plant thereby reducing the cost, the source added.

Nearly all the methanol production from the plant would be for sale.

The company source estimates that the daily production will be around 500 tonnes.

The proposed methanol plant would be integrated with GSFC’s petrochemical complex. 

Indian domestic methanol prices were heard at Rupee (Rs) 18.00-18.25 /kg ($401-406/tonne) (Rs18,000-18,250/tonne) ex-tank on Thursday, stable from last week, according to ICIS.

Methanol producers in India include Deepak Fertilizers & Petrochemicals Corp and Rashtriya Chemicals and Fertilizers (RCF).

($1 = Rs 44.92)

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By: Heng Hui
+65 6780 4359

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