JBF Industries’ subsidiary, JBF Petrochemicals Ltd, has entered into an agreement with BP for licensing BP’s latest generation Purified Terephthalic Acid (PTA) technology.
JBF said it intends to build a 1.25 million tonnes per annum (tpa) unit at Mangalore SEZ to produce PTA, the primary feedstock for polyesters used in textiles and packaging. The company expected the Mangalore plant to go on stream by the end of 2014.
Mr B.C. Acharya, Chairman, JBF Industries Ltd, said the investment would meet the company’s requirements for captive PTA at the lowest possible cost. It would also make the integrated operations in India and the UAE competitive.