GAIL Mangalore Petrochemicals Limited (GMPL), a subsidiary of GAIL (India), has strengthened its collaboration with INEOS, a global leader in petrochemicals, by signing an amendment agreement.
Focus on Revitalizing the PTA Plant
The renewed partnership of GMPL and INEOS focuses on rejuvenating GMPL’s 1.25 million metric tons per annum (MMTPA) purified terephthalic acid (PTA) manufacturing facility.
Located in Mangalore’s Special Economic Zone (SEZ), the plant is set to benefit from INEOS’s expertise in petrochemicals, aiming to enhance operational efficiency and meet market demands.
Strategic Move Following Key Acquisition
The agreement follows GAIL’s acquisition of JBF Petrochemicals (JBF) in June 2023.
The acquisition was completed through the Corporate Insolvency Resolution Process (CIRP) under the National Company Law Tribunal (NCLT). It marked GAIL’s commitment to addressing legacy challenges.
Now, GAIL is taking decisive steps to bring the Mangalore plant back into optimal production.
Advancing India’s Self-Reliance Goals
By aligning with the Atmanirbhar Bharat initiative, the partnership underscores GMPL’s role in bolstering India’s domestic manufacturing capabilities.
INEOS’s proven expertise will optimize PTA plant operations. This will help reduce the nation’s reliance on imported petrochemical products.
Leadership’s Vision for Growth
Ayush Gupta, Chairman of GMPL and GAIL’s Director (HR), stated, “Through this strategic partnership, GAIL aims to position GMPL as a key player in the domestic PTA market. This initiative also supports India’s growth in petrochemical manufacturing.”
Strengthening India’s Manufacturing Sector
The revitalization of GMPL’s PTA plant marks a significant step in India’s journey towards economic self-sufficiency.
As reported by projectstoday.com, GAIL and GMPL aim to enhance domestic production capabilities. This supports the nation’s manufacturing sector and drives growth in the petrochemical industry.
