18 March 2013 14:16 [Source: ICIS news]
GURGAON, India (ICIS)--IndianOil's planned acetic acid (AA) joint venture at Vadodara, Gujarat, is progressing, with technology selection for the upstream units likely to completed over the next few months, a senior company source said on Monday.
The proposed 1m tonne/year AA plant - a joint venture with BP Chemical - will be based on petroleum coke generated at IndianOil's refinery at Koyali, Vadodara.
Besides the acetic acid facility, the project also includes petroleum coke gasification and syngas production.
"We are now in the process of selecting technology for petroleum coke gasification; we have also received offers for carbon monoxide and associated units. The target is to have kick off meetings in April," said Sidhartha Mitra, the firm’s executive director for petrochemicals, on the sidelines of the Petrochemical Conclave meeting.
The project, which is expected to cost Rs60-65bn ($1.1-1.2bn), is likely to be completed in 2016-17.
($1 = Rs54.03)
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