GAIL Revives Mangalore's PTA Plant with INEOS Partnership

GAIL (India) Ltd has re-engaged INEOS as a process licensor to revive its PTA manufacturing plant in Mangalore. Through its subsidiary, GAIL Mangalore Petrochemicals Limited, the company aims to strengthen India's petrochemical sector by reducing import dependency and enhancing manufacturing capabilities.

GAIL (India) Ltd has announced the re-engagement of INEOS as a process licensor for the revival of a PTA manufacturing facility located in Mangalore. The firm's subsidiary, GAIL Mangalore Petrochemicals Limited, has formalized this renewed collaboration through an Amendment Agreement.

This strategic move marks a crucial step towards overcoming past challenges left by JBF Petrochemicals, whose previous agreement with INEOS was unfulfilled due to insolvency proceedings. GAIL acquired JBF in June 2023 through the CIRP, under the NCLT guidelines, to facilitate this revitalization effort.

The partnership with INEOS is anticipated to significantly enhance the plant's operational efficiency and streamline production capabilities in line with market demand. GAIL aims for GMPL to become a leading player in the domestic PTA market, contributing to India's growth in petrochemical manufacturing by reducing import reliance.

(With inputs from agencies.)