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JBF Industries' subsidiary enters into long term agreement with ONGC Mangalore Petrochemicals

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For supply of Paraxylene

announced that JBF Petrochemicals, a step down subsidiary of JBF Industries, has entered in to a Long Term Agreement with Mangalore Petrochemicals (OMPL) for supply of Paraxylene, the main raw material for production of Purefied Terephthalic Acid (PTA).

JBF Petrochemicals, is in the process of commissioning a 1.25 million Tonnes per annum PTA plant, using technology from BP, at Mangalore SEZ, Karnataka. Paraxylene will be supplied by OMPL to JBF Petrochemicals, through a dedicated pipeline about 3 k.m. in length.

The agreement entails supply of Paraxylene for a period of 10 years, with provision of further increasing the period of supply by another 5 to 10 years by mutual consent. This agreement facilitates assurance of supply of raw material for the upcoming PTA project on a long term basis.

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First Published: Fri, April 15 2016. 13:34 IST