14 February 2013 09:36 [Source: ICIS news]
SINGAPORE (ICIS)--India's Gujarat Narmada Valley Fertilizers Co (GNFC) is running its 290,000 tonne/year methanol plant in Bharuch at 325-350 tonnes/day, or 35-40% of capacity, as feedstock natural gas is diverted to more lucrative ammonia production, a company official said on Thursday.
“The ammonia price has consistently been above Rs30/kg ($0.58/kg) ex-tank which is unprecedented in history,” he said.
The volume of methanol produced is only sufficient to feed its downstream acetic acid plant, and for small local distribution, he added.
Domestic methanol prices were at Indian Rupees (Rs) 22.50-23.50/kg ex-tank, according to ICIS.
Other major methanol producers in India include Deepak Fertilisers and Petrochemicals and Rashtriya Chemicals and Fertilizers.
($1 = Rs53.81)
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