India to construct methanol and acetic acid facilities
Assam Petrochemicals Limited (APL), an Indian public sector unit, is planning to set up a 500tpd methanol plant and 200tpd acetic acid plant with an investment of more than Rs10.28bn ($184m).
APL currently produces 100tpd methanol and 100tpd formalin, which is marketed in Eastern and Northern India as well as being exported to Bhutan, Nepal and Bangladesh.
Ratul Bordoloi, APL managing director, was quoted by The Economic Times as saying that the company is expecting to make the units operational by 2015.
"The technology provider for the methanol plant has been already finalised while we are in the process of finalising a technology provider for the acetic acid plant," Bordoloi added.
''It will take 36 months for the methanol plant to come while it will take 24 months for setting up the acetic plant.
"We in India are just producing 36% of the methanol requirement and 29% of the acetic acid requirement."
There is huge market for acetic acid and methanol products in India and the country is presently importing them, according to Ratul Bordolo.
Bordoloi also said that out of Rs10.28bn ($184), Rs 7.34bn ($131.5m) will be pooled as a bank loan while the Assam Gas Company Limited, Assam government and Oil India Limited will provide Rs 2.9bn ($52.7m).