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(Plastemart) -- UK-based British
Petroleum (BP) and Indian Oil Corporation have signed a memorandum of
understanding (MOU) to set up a 50:50 joint venture for a 1 mln tpa acetic plant
in Gujarat. The plant will come up with associated gassification facilities for
production of synthesis gas.
The two companies await results of the
feasibility report to confirm the exact details of the project, which is
expected to be commissioned in 2015. The joint venture will derive its technical
prowess from the latest Cativa XP from BP while petroleum coke feedstock will be
used from Indian Oil.
Perspectives of development of the polymers markets, pricing issues and
other important aspects will be discussed at The Polymers
Summit-2011, which will be held in Moscow on November 30, 2011 at the
Ritz Carlton Hotel. The Summit is organized by MRC with the support of ICIS. The main idea
of the Summit is to find a "the golden mean" between producers and converters.
When producers receive exactly such margin of production, which helps them to
invest in production expansion in order to substitute polymers imports, and the
converters receive such price of feedstock that helps them to compete imported
finished products. The Summit site gives an access to the live video of the
Summit, speakers" presentations, as well as opportunities to ask questions or
make appointments to any Summit partcipant.
mrcplast.com
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