OREANDA-NEWS. November 22, 2011. BP and IndianOil have signed an MOU to work together to explore the potential for establishing a 50/50 JV to invest in a 1 million tonne per annum Acetic Acid plant in Gujarat together with associated gasification facilities for production of Synthesis Gas.

The proposed Acetic Acid plant would employ BP's latest Cativa XL technology, whilst the gasification facilities would utilise petroleum coke feedstock from IndianOil. A joint feasibility study is currently underway to confirm the exact configuration of the project, which would have a targeted start-up date in 2015.