India may need to import 1-2 million tons of methanol (Methanol Prices) for mixing with petroleum

Chemical Industry

Offers to be called to import 1-2 mt of methanol

India may need to import 1-2 million tons of methanol (Methanol Prices) for mixing with petroleum, to be utilized as cooking fuel and as an elective fuel for inland conduit boats.According to NITI Aayog, India’s interest for methanol is assessed to stretch around (Methanol Prices) 10 million tons for every annum and local generation is evaluated at 6 million tons for every annum by 2025. “The imports will be expected to meet developing prerequisite for the following three years,” as per Member, NITI Aayog, VK Saraswat.The push to create methanol as an other fuel will require the Cabinet’s gesture, which is normal in the following two months, Saraswat included.

“We will call for offers for at any rate 1-2 million tons of (Methanol Prices) to meet the local necessities,” Saraswat told correspondents here on Monday.Commenting on the likely expense to the exchequer because of imports of methanol, Saraswat stated, “That won’t be conceivable to evaluate at this moment. A month ago methanol was valued at ₹32 a liter, today it is ₹25 a liter. We can’t know the prompt expense of the imports.”

As per Prashant Guru Srinivas, Founder, Director of the Catalytic Think Tank Forum, the present cost of (Methanol Prices) is around $330-340 for each ton in the global market.The offers for the imports will be called for by Gujarat Narmada Valley Fertilizers and Chemicals, Rashtriya Chemicals and Fertilizers and Assam Petrochemicals in the money related year 2018-2019, Saraswat included.

At present (Methanol Prices) is delivered in considerable amounts in West Asian nations in particular Iran, Iraq and Qatar. Passing by the present rate, this will at any rate add almost $330 million to India’s import bill for the between time period. He said there will be a proposition to mix up to 15 percent methanol with each liter of oil. “It will give a cost preferred position of ₹3-4 liter over unadulterated oil,” Saraswat included.

Methanol Prices
Methanol Prices

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