New Delhi, November 28, 2024 – GAIL (India) Limited, through its subsidiary GAIL Mangalore Petrochemicals Limited (GMPL), has taken a major step toward reviving its Purified Terephthalic Acid (PTA) plant in Mangalore. A renewed collaboration with process licensor INEOS was formalized through an Amendment Agreement signed in New Delhi.
The 1.25 MMTPA PTA manufacturing plant, located in the Special Economic Zone (SEZ) of Mangalore, faced challenges after its original operator, JBF Petrochemicals, entered insolvency. Following GAIL’s acquisition of JBF in June 2023 under the Corporate Insolvency Resolution Process (CIRP), the state-owned enterprise has worked diligently to overcome operational hurdles.
Shri Ayush Gupta, Chairman of GMPL and GAIL Director (HR), emphasized the strategic importance of the revival. “Through this partnership, GAIL aims to establish GMPL as a prominent player in the domestic PTA market, contributing to India’s growth in petrochemical manufacturing,” he said.
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The plant’s successful restoration is expected to reduce India’s dependence on PTA imports, strengthen local manufacturing capabilities, and support the Government of India’s Atmanirbhar Bharat initiative. Shri R.K. Singhal, GAIL Director (BD), highlighted the positive economic impact, noting the alignment with market demands and operational efficiency goals.
INEOS Group, a global leader in petrochemicals and specialty chemicals, brings its technical expertise to ensure the plant’s long-term viability.
