BPCL and GAIL sign Rs 63000 crore pact to supply propane for India's first PHD plant in Maharashtra
MOUs and Agreement
GAIL (India) Ltd signed a Rs 63,000 crore deal with Bharat Petroleum Corporation to supply propane for its upcoming petrochemical plant in Maharashtra. Under the supply agreement, GAIL will purchase 600 kilo tonnes of propane per year from BPCL's LPG import facility at Uran, Maharashtra. According to the statement, it is currently capable of handling 1 million metric tonnes of LPG imports per year and is being expanded to accommodate 3 MTPA propane and butane imports. The project at Ussar is likely to be commissioned in 2025 and will be India's first propane dehydrogenation plant. The company said the venture is in line with the growing demand for polypropylene, which is projected to grow from 4.9 metric tons in 2020 to 6.3 metric tons by 2025. GAIL shares closed 1.67% lower at Rs 117.5, while BPCL shares closed 2.22% higher.
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