India's OMPL issues tender to export PX/benzene from new project

15 May 2012 10:18  [Source: ICIS news]

SINGAPORE (ICIS)--ONGC Mangalore Petrochemicals Limited (OMPL) has issued a tender for long-term export of paraxylene (PX) and benzene from its new aromatics project, expected to begin commercial production early next year, according to a company document obtained on Tuesday.

The complex, to be located in New Mangalore, is likely to come on line in March-April 2013.

The company is also seeking potential investors to build a downstream purified terephthalic acid (PTA) plant “in and around Mangalore” to received feedstock PX via a pipeline from the company’s new aromatics facility.

The aromatics facility has a design capacity to produce up to 920,000 tonnes of PX and 270,000 tonnes of benzene per annum, according to the the tender document.

The PX will be sold on a ex-plant basis and will be priced against 50% Asian Contract Price (ACP): 50% CFR Taiwan quotes minus freight rates between Mangalore and south Korea plus alpha plus beta; where alpha is a price determined by OMPL through the tender and beta is the biddable parameter for the sell-tender.

Benzene will also be sold on a ex-plant basis and will be priced against FOB Korea quotes minus freight rates between Mangalore and south Korea plus alpha, where alpha is the biddable parameter for the sell-tender.

Bids for the long-term PX sell-tender should be submitted by 18 June while bids for the benzene sell-tender should be submitted by 19 June.

By: Bohan Loh
+65 6780 4359

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