IOC, BP to evaluate joint plant in Gujarat
New Delhi   24-Nov-2011

Global energy major BP Plc and state-run IndianOil (IOC) have signed an initial agreement to consider setting up a 1-million-tonne-per-year acetic acid plant and related gassification facilities in western India, the two firms said on Wednesday.

The plant in Gujarat will employ BP's Cativa XL technology and use petroleum coke feedstock from IOC, the companies said in a statement, which did not dis close any financial details. The project is targeted to commence in 2015, and a joint feasibility study is under way, the statement added.