Home / Knowledge / News / Textiles / BPCL to purchase propylene-based products technology
BPCL to purchase propylene-based products technology
23
Sep '14
After failing to get South Korean LG Chemicals on board as a technology partner for its Kochi-based petrochemical project, Indian public sector refiner Bharat Petroleum Corporation Ltd (BPCL) said it will buy outright, the critical technology to produce speciality chemicals.

The critical technology is used in producing speciality propylene derivatives-based products such as acrylic acid and acrylates and used in textiles, plastics, paints, coatings, adhesives and inks.

"Since our plan to get the Korean major LG Chem on board as a technology partner for the petrochemicals project did not materialise, we have decided to purchase the technology for speciality propylene derivatives outright,” said BPCL Chairman S Varadarajan.

Speaking after Bharat Petroleum’s annual general meeting, he added, “Earlier this technology was not available for outright buying, but now the situation has changed with players ready to sell patented technologies and we are hopeful of concluding a deal within 2-3 months.”

Bharat Petroleum is setting up the Rs 5,000 crore petrochemical project next door to its Kochi refinery and will produce 250 million tons of speciality propylene derivatives products and also end India’s dependence on imports of these speciality chemicals.

A year after signing an agreement with BPCL in July 2012, LG Chemical walked out of the JV in August 2013 citing adverse international environment for large investments.

The petrochemical project is part of the Rs. 165 billion expansion that Bharat Petroleum is undertaking to upgrade and increase capacity at the refinery from 9.5 million tons to 15.5 million tons by December 2015.

At present, no Indian refinery has the know-how to make speciality propylene derivatives. (AR)

Fibre2fashion News Desk - India


Must ReadView All

EU renews GSP+ scheme for Pakistan 2 years

Apparel/Garments | On 24th Feb 2018

EU renews GSP+ scheme for Pakistan 2 years

Pakistani exporters can enjoy preferential duties on exports to the...

Surat wary of e-way bills

Textiles | On 24th Feb 2018

Surat wary of e-way bills

There is no respite for Surat’s textile manufacturers and retailers....

Retailers choose sides in Alibaba-Tencent battle in China

Apparel/Garments | On 24th Feb 2018

Retailers choose sides in Alibaba-Tencent battle in China

Two big Chinese firms— Alibaba Group Holding Ltd and Tencent Holdings ...

Interviews View All

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Sonam & Paras Modi
SVA

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

February 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search