Indian Oil Corporation and Celanese Agree to Explore World-scale TCX® Fuel Ethanol Plant in India

Thu, October 9 2014

DALLAS & DELHI, India--(BUSINESS WIRE)-- Indian Oil Corporation (IOCL) of Delhi, India, and Celanese Corporation (NYSE: CE) of Dallas, Texas, USA, have signed an MOU (memorandum of understanding) on October 1 to explore the potential of a joint investment in a fuel ethanol plant to be built in India, based on Celanese’s TCX® Technology. The project is expected to be located at Paradip in Odisha State of India and will utilize petroleum coke (“petcoke”) from Indian Oil’s refineries as the key feedstock. Other potential locations will also be investigated.

The potential investment would create significant value addition by converting petcoke, a by-product in the refining process, to a low-cost, high-octane and clean-burning gasoline blending component (ethanol) and potentially other co-product petrochemical derivatives. Ethanol, an ideal blending stock for gasoline production, will help in meeting the rising gasoline demand of India. Celanese and IOCL are undertaking this collaborative study that will benefit both companies as well as India as a whole.

Indian Oil is an Indian Maharatna company with integrated operations in the field of refining, marketing, pipelines, petrochemicals, gas, exploration and production, and R&D activities.

About Celanese

Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. With sales almost equally divided between North America, Europe and Asia, the company uses the full breadth of its global chemistry, technology and business expertise to create value for customers and the corporation. Celanese partners with customers to solve their most critical needs while making a positive impact on its communities and the world. Based in Dallas, Texas, Celanese employs approximately 7,400 employees worldwide and had 2013 net sales of $6.5 billion. For more information about Celanese Corporation and its product offerings, visit www.celanese.com or our blog at www.celaneseblog.com.

All trademarks indicated above are owned by Celanese International Corporation or its affiliates.

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Celanese Corporation
Investor Relations
Jon Puckett, +1-972-443-4965
Jon.Puckett@celanese.com
or
Media - Corporate
W. Travis Jacobsen, +1-972-443-3750
William.Jacobsen@celanese.com

Source: Celanese Corporation