GAIL (India) Limited, through its wholly owned subsidiary, GAIL Mangalore Petrochemicals Limited (GMPL), has re-engaged with INEOS to revitalize the Purified Terephthalic Acid (PTA) manufacturing plant in Mangalore. This collaboration, formalized through an Amendment Agreement, marks a significant step in bringing GMPL’s 1.25 MMTPA PTA plant back into operation, located in the Special Economic Zone (SEZ) of Mangalore.
The agreement is a vital part of the plant’s revival journey, which was previously hindered by insolvency proceedings involving JBF Petrochemicals (JBF). After GAIL acquired JBF through the Corporate Insolvency Resolution Process (CIRP) under the National Company Law Tribunal (NCLT) in June 2023, efforts have been focused on overcoming legacy challenges to ensure the plant’s long-term stability and successful operation.
With this new agreement in place, the PTA plant is set to enhance its operational efficiency, meet market demand, and contribute to India’s self-reliance goals under the Atmanirbhar Bharat initiative. The collaboration with INEOS will play a crucial role in aligning production capabilities with market needs, ensuring the plant’s success and sustainability.
GMPL and GAIL Director (HR) Shri Ayush Gupta stated, “Through this strategic partnership and renewed focus, GAIL aims to position GMPL as a key player in the domestic PTA market while supporting the country’s growth in petrochemical manufacturing.”
