IOC signs MoU with UK's BP for acetic acid plant
New Delhi   24-Nov-2011

Global energy major BP and IndianOil on Wednesday announced a plan to set up a one million tonne acetic acid plant In Gujarat. The companies will incorporate an equal joint venture, which will build the plant with associated gasification facilities for production of synthetic gas, they said in a statement. 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. The companies have signed a Memorandum of Understanding for exploring the potential for the project.