The Prime Minister's call of Aatmanirbhar Bharat has made Gujarat State Fertilizers & Chemicals Limited (GSFC) restart its Methanol Plant as the product would be an important substitution for Chinese product thereby saving lot of forex for the country.

Gujarat State Fertilizers & Chemicals Limited has restarted its Methanol Plant with an installed capacity of 525 metric tonnes per day. The plant has restarted on a trial basis from 31st August 2020 and will be operating at its full capacity by 10th September, 2020 and is expected to produce approximately 470 MT per day. With Methanol Plant operational, the company's topline will be up by approximately Rs. 150 crore in FY 2020-21.

The plant was commissioned in 2013 however no commercial production took place as production of Methanol was unviable due to high raw material cost and non-availability of market.

Methanol is used in many industrial applications like Formaldehyde, API Formulations, Methyl Amines, Dyes & Intermediates, Paints, Solvents, Adhesives, Pesticides etc. In the Indian market, the major application of Methanol is Formaldehyde, which accounts for 60% of Methanol consumption.