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GAIL’s arm inks pact with process licensor for revival of PTA manufacturing plant
Gail (India) announced that its wholly owned subsidiary, GAIL Mangalore Petrochemicals (GMPL), re-engaged with process licensor INEOS to support the plant’s revitalization, formalizing renewed collaboration through an amendment agreement.
This marks a significant step towards the revival of GMPLs 1.25 MMTPA purified terephthalic acid (PTA) manufacturing plant located in the special economic zone (SEZ), Mangalore.
This collaboration marks a pivotal development in the efforts to bring the PTA plant back into production. The original agreement with INEOS was executed by JBF Petrochemicals (JBF), which could not be realized due to insolvency proceedings. Following GAIL’s acquisition of JBF through the Corporate Insolvency Resolution Process (CIRP) under the National Company Law Tribunal (NCLT) in June 2023, the company is now working to overcome the legacy challenges and ensure the plants successful on-streaming and long-term operational stability, it added.
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