India: Petcoke gasification plant put on hold

Low fuel prices force Indian company to put a hold on petcoke gasification plant plans

Essar OilsÔÇÖ plans to build a petcoke gasification plant were put on hold after fuel prices lowered, reports the Economic Times.

The gasification plant would develop the petcoke market in India by creating a new consumer, and also contribute to Syngas (synthetic gas) market development. Essar owns a delayed coker unit and produces petcoke at its refinery. In the meantime, the company is planning to invest between USD 1 billion and USD 1.5 billion on a fluid catalytic cracker, with a capacity of up to 5 million tons a year.

Essar produces mostly fuels such as gasoline and naphtha products, and plans on reducing its fuel exports to focus on the Indian domestic market.