GNFC and INEOS UK partner to build acetic acid plant in India

Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) and INEOS Acetyls International have signed a memorandum to form a 50:50 joint venture to build a large acetic acid plant in India. This partnership combines INEOS's technical skills with GNFC's local market knowledge. The joint venture will manage the plant's operations and marketing for domestic distribution of acetic acid. A formal agreement is expected to be finalized later. The new entity will be classified as an associate company of GNFC once the investment is complete. This venture aims to enhance India's chemical manufacturing capabilities, supporting the country's goal to increase domestic production. The share subscription price will be set according to regulations, and GNFC confirmed that this investment does not involve related party transactions.