State-owned gas utility GAIL (India) Ltd has re-engaged INEOS for the revival of its PTA manufacturing plant in Mangalore, as announced on Thursday. Through its subsidiary GAIL Mangalore Petrochemicals Limited (GMPL), GAIL has formalised this renewed collaboration with INEOS by signing an Amendment Agreement.
This marks a crucial step toward reviving GMPL’s 1.25 million tonnes per annum purified terephthalic acid (PTA) plant in the Special Economic Zone (SEZ) in Mangalore. The original agreement with INEOS was made by JBF Petrochemicals, but was not realised due to insolvency issues. Following GAIL’s acquisition of JBF under the Corporate Insolvency Resolution Process (CIRP) in June 2023, GAIL is working to address the plant’s challenges and ensure its long-term operational success.
Ayush Gupta, Chairman of GMPL and Director (HR) at GAIL, stated, “This strategic partnership will position GMPL as a key player in the domestic PTA market, supporting the growth of petrochemical manufacturing in India.”
RK Singhal, Director (Business Development) at GAIL, added, “Successfully completing this project will reduce India’s import dependency and enhance the country’s petrochemical manufacturing capabilities.” The updated agreement with INEOS is expected to improve the plant’s operational efficiency and better align its production with market demand.
INEOS is a leading global producer of petrochemicals, specialty chemicals, and oil products. INEOS is a global leader in the production of petrochemicals, specialty chemicals, and oil products. Founded in 1998, the company has grown rapidly through strategic acquisitions and investments, establishing itself as one of the world’s largest privately-owned chemical companies.
INEOS operates across a wide range of industries, including automotive, electronics, healthcare, and energy, and its products are integral to everyday life. With a strong commitment to innovation, sustainability, and operational excellence, INEOS maintains a significant global footprint, with manufacturing plants and offices in over 30 countries. The company continues to push the boundaries of chemical manufacturing, striving to improve product performance, reduce environmental impact, and enhance the efficiency of its operations.
GAIL (India) Ltd is the leading state-owned natural gas processing and distribution company in India, playing a pivotal role in the country’s energy sector. Established in 1984, GAIL operates an extensive pipeline network for transporting natural gas and is involved in the production of petrochemicals, along with the development of renewable energy solutions.
As a key player in India’s natural gas industry, GAIL has contributed significantly to the nation’s energy security by providing sustainable, cost-effective solutions across various sectors. The company is also focused on expanding its global presence through strategic partnerships and projects, with an emphasis on innovation and sustainability in its operations. Through its subsidiaries and collaborations, GAIL continues to strengthen its position as a critical component of India’s energy infrastructure.
