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BP, Indian Oil cancel plans for acetic acid JV

5:32 AM MDT | June 18, 2014 | Ian Young

Indian Oil (IOC; New Delhi) and BP have abandoned plans for an acetic acid joint venture in India, citing high capital costs. The proposed 50-50 jv would have built a 1-million m.t./year acetic acid plant at Vadodara, Gujarat State, based on BP's Cativa XL technology. The project also would have included gasification facilities, consuming petroleum coke supplied by IOC,  for the production of synthesis gas. Start-up had been originally scheduled for 2015 but it was postponed until 2017. "IOC and BP have been working closely since 2011 to explore options...

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