Mumbai, India – Bharat Petroleum has pulled out of a project to make polyols at its site in Kochi, India.
In an announcement to the Indian Stock Exchange, the company said it would evaluate making polypropylene instead.
Bharat's board approved the plan to make polyols in September 2018 and took out a technology license and appointed a project manager. FEED estimates were made. 'However, the revised cost estimates are much higher than the original estimate mainly on account of increases in equipment and material costs,' the company said.
These increases have made the project unviable, it said