Ineos, GNFC to Develop New World Scale Acetic Acid Plant

Engineering Ineos, GNFC to Develop New World Scale Acetic Acid Plant

2024-11-26 Source: Press release Ineos 1 min Reading Time

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Under a MOU signed between Ineos Acetyls and Gujarat Narmada Valley Fertilizers & Chemicals, both the companies will work together to develop a new 600kt acetic acid plant at GNFC's site in Bharuch, Gujarat, India.

Ineos Acetyls and Gujarat Narmada Valley Fertilizers & Chemicals have recently signed a MOU to explore the feasibility to build a new world scale, 600kt acetic acid plant at GNFC's site in Bharuch, Gujarat, India.(Source: Pixabay) — Ineos Acetyls and Gujarat Narmada Valley Fertilizers & Chemicals have recently signed a MOU to explore the feasibility to build a new world scale, 600kt acetic acid plant at GNFC's site in Bharuch, Gujarat, India.
(Source: Pixabay)

London/UK – Ineos Acetyls and Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) have recently signed an MOU to explore the feasibility to build a new world scale, 600kt acetic acid plant at GNFC's site in Bharuch, Gujarat, India.

Ineos Acetyls are a leading producer of acetic acid globally and GNFC is the only current producer of acetic acid in India. The two companies have held a technology partnership for close to 30 years but will now establish a new joint venture which will manage bringing this project to market, currently forecast in 2028.

David Brooks, CEO Ineos Acetyls commented, "We are delighted to make this announcement today, working with our partner GNFC on this new project. India is recognized as being a key growth market for our products over the coming years and this investment will increase much needed locally produced acetic acid, reducing the country’s reliance on imports.”

Pankaj Joshi, MD GNFC commented that India imports ~85 % of its annual requirements of acetic acid. The proposed JV is expected to achieve the objective of ‘Make in India’. Domestication of acetic acid will serve existing demand and provide the required boost to other evolving downstream demands saving precious foreign exchange outgo.

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