British Petroleum (BP) is mulling to set up a one million tonne petrochemical
plant at an outlay of Rs 3,500 crore, in order to expand its India operation.
According to sources, the plant may come up in Gujarat.
BP is already in talks with India based oil refiners to buy paraxylene which
is developed from naphtha, a refining by-product. The company plans to use
paraxylene as a raw material to make purified terephthalic acid (PTA), a
petrochemical product used in polyester and plastic.