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India petchem deal

1:09 PM MDT | June 28, 2013

Oil India (Noida) will acquire a 49% stake in Assam Petrochemicals’ expansion project at Namrup, in the Indian state of Assam. The Assam government holds a majority of Assam Petrochemicals through Assam Industrial Development Corp. The expansion will add 500 m.t./day of methanol and 200 m.t./day of acetic acid capacity using gas feedstock. Oil India supplies gas to Assam Petrochemicals, which currently operates small-scale methanol, formalin, and formaldehyde plants. Assam Petrochemicals plans eventually to add products including dimethyl ether, vinyl acetate...

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