Home / Knowledge / News / Textiles / APL to invest Rs 10bn for methanol-acetic acid plant
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


Must ReadView All

May 31 deadline for registration of chemicals under REACH

Textiles | On 23rd May 2018

May 31 deadline for registration of chemicals under REACH

May 31 is the final deadline for companies to register all chemicals...

US cotton production projected to decline in 2018: USDA

Textiles | On 23rd May 2018

US cotton production projected to decline in 2018: USDA

US cotton production is forecast at 19.5 million bales, nearly 7 per...

Pakistan's textile exports up 8.13% in July-April FY18

Textiles | On 23rd May 2018

Pakistan's textile exports up 8.13% in July-April FY18

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Top executives
Textile industry

The foremost issue is bridging the skill gap

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search