IOC signs MoU with UK's BP Plc for acetic acid plant

The Memorandum of Understanding (MoU) is for exploring "the potential for establishing a 50-50 joint venture to invest in a one million tonne per annum Acetic Acid plant in Gujarat together with associated gasification facilities for production of Synthesis Gas," the company said in a statement.

The proposed Acetic Acid plant would employ BP's latest Cativa XL technology, while the gasification facilities would utilise petroleum coke feedstock from IOC.

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