Deepak Phenolics inks term sheet with Petronet LNG for offtake of 250 KTPA of propylene and 11 KTPA of hydrogen

The arrangement spans 15 years from the initial delivery of propylene and hydrogen

Deepak Phenolics Limited, a wholly-owned subsidiary of Deepak Nitrite Limited, has inked a significant agreement with Petronet LNG Limited (PLL) for the supply of propylene and hydrogen.

“The Board of Directors of Deepak Phenolics Limited (DPL), a wholly owned material subsidiary of Deepak Nitrite Limited, has approved execution of binding Term Sheet between DPL and Petronet LNG Limited (PLL) for offtake of 250 KTPA of Propylene and 11 KTPA of Hydrogen from Petronet Petrochemical Project at Dahej, Gujarat for a period of 15 years from the date of first supply of propylene and hydrogen by PLL to DPL,” Deepak Nitrite said in a stock exchange filing.

A Definitive Agreement will be formalized in due course, solidifying this strategic partnership between DPL and PLL in the realm of chemical off-take.

This long-term supply agreement provides DPL with assured access to crucial feedstock for its production processes, paving the way for consistent output and operational stability.

Deepak Phenolics Limited is a 100% subsidiary owned by Deepak Nitrite Limited, India’s fastest growing Chemical Intermediates company. Deepak Phenolics is the largest producer of phenol and acetone in India, also making IPA, Cumene and AMS in Dahej, Gujarat.

A Responsible Care accredited company, its products find diverse applications in laminate & plywood, automotive, construction, pharmaceuticals, adhesives, sanitizers, rubber, chemicals, paints and others.