GAIL (India), through its wholly owned subsidiary GAIL Mangalore Petrochemicals (GMPL), has re-engaged with Process Licensor INEOS to support the plant's revitalization, formalizing this renewed collaboration through an Amendment Agreement. This marks a significant step towards the revival of GMPL’s 1.25 MMTPA Purified Terephthalic Acid (PTA) manufacturing plant located in the Special Economic Zone (SEZ), Mangalore.
This collaboration marks a pivotal development in the efforts to bring the PTA plant back into production. The original agreement with INEOS was executed by JBF Petrochemicals (JBF), which could not be realized due to insolvency proceedings. Following GAIL's acquisition of JBF through the Corporate Insolvency Resolution Process (CIRP) under the National Company Law Tribunal (NCLT) in June 2023, the company is now working to overcome the legacy challenges and ensure the plant’s successful on-streaming and long-term operational stability. The amended agreement with INEOS is expected to enhance the plant's operational efficiency, align production capabilities with market demand, and contribute to India’s vision of self-reliance as part of the Government of India’s Atmanirbhar Bharat initiative.
GAIL (India) is India’s leading natural gas company with diversified interests across the natural gas value chain of trading, transmission, LPG production & transmission, LNG regasification, petrochemicals, city gas, E&P, etc.
| Company Name | CMP |
|---|---|
| GAIL India | 163.20 |
| Gujarat Gas | 393.05 |
| Indraprastha Gas | 162.45 |
| Mahanagar Gas | 1115.00 |
| Adani Total Gas | 621.60 |
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