IOC signs MoU with BP sign for acetic plant

IOC, BP, MoU, acetic acid, plant Global energy giant BP and India's biggest oil marketing company Indian Oil Corp have proposed to set up a one million tonne capacity acetic acid plant in Gujarat.

"A joint feasibility study is currently underway to confirm the exact configuration of the project, which would have a targeted start-up date in 2015," Indian Oil said in a statement.

The proposed equal joint venture will also have associated gasification facilities for production of synthesis gas, it said.

The proposed acetic acid plant would employ BP's latest Cativa XL technology, whilst the gasification facilities would utilise petroleum coke feedstock from Indian Oil, it said.