BP and JBF Petrochemicals (a wholly owned subsidiary of JBF Industries Ltd.) have signed an agreement for licensing BP’s latest generation purified terephthalic acid (PTA) technology. JBF intends to build a 1.25 million tonnes per annum (tpa) unit at the Special Economic Zone in Mangalore, India, to produce PTA, the primary feedstock for polyesters used in textiles and packaging. JBF expects the Mangalore plant to come on stream at the end of 2014.
“This first third party, non-affiliate, licence recognises the quality of BP’s technology and builds on the excellent relationship between our companies. JBF is a world-class polyester producer and I’m proud that they’ve chosen BP’s leading technology,” said Nick Elmslie, chief executive of BP’s Global Petrochemicals Business.
“Our PTA technology has significantly lower capital and operating costs compared with conventional PTA plants and is more energy efficient, uses less water, and produces less solid waste than its competitors. We have invested significantly in our proprietary technology and there are two routes to monetize this; one is through investment and one is through licensing. We have decided that the maximum value to BP will come both from investing in projects such as our Zhuhai 3 project in Guangdong, China and through licensing.”
Air Force 1 Mid Flyknit