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APL to invest Rs 10bn for methanol-acetic acid plant
23
Jul '13
Assam Petro-chemicals Ltd (APL) is set for large scale expansion in the production of methanol and acetic acid. The only Public Sector Unit (PSU) in Northeast Indian state of Assam, the company has signed debt agreements with ten banks, Oil India Ltd (OIL), Government of Assam and Assam Gas Company Ltd (AGCL) to implement the Rs. 10.28 billion project.
 
The debt agreement would help APL to set up the methanol-acetic acid plant which is said to have the capacity to produce 500 tons per day (tpd) of methanol and 200 tpd of acetic acid at the factory located in Namrup, in Dibrugarh district, Assam.
 
Of the total Rs 10.28 billion, Rs. 3.93 billion will be invested by OIL, Government of Assam and AGCL, whereas the remaining Rs. 6.35 billion will be debt capital from the banks. The State Bank of India would be the lead bank to finance the project.
 
APL managing director Ratul Bordoloi said most of the preparatory work for the new methanol-acetic acid project has been completed and the new plant would place APL as the biggest natural gas based petrochemical complex in Northeast India.
 
Mr. Bordoloi added that the demands for methanol and acetic acid have been increasing annually at a rate of 6 percent and 4 percent respectively, prompting the company to go for an expansion plan of such a magnitude. 
 
The methanol-acetic acid project, which is currently under implementation, is scheduled to be completed in 2014.
 
Methanol is used in the manufacture of acetic acid, formaldehyde, and is used as a feedstock by dyestuff industry for the manufacture of proteins that are synthetic. Acetic acid is used in textile and garment industry for dyeing purposes.
 
Presently, 60 percent of methanol and acetic acid demand of India is being met by imports. 
 

Fibre2fashion News Desk - India

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