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Jun 15th, 2009
Huntsman and Laffans Join Forces for Specialty Chemicals Manufacturing in India
Huntsman Corporation (USA) and Laffans Petrochemicals Ltd. (India) have signed a Letter of Intent to finalize a collaboration agreement to share know-how, expertise and resources for specialty chemicals. The parties intend to leverage each other’s capabilities and resources for surfactants and amines manufacturing in India. Laffans’ responsibilities would include manufacturing and raw material sourcing, while...
May 27th, 2009
Samsung Petrochemical Wants to Invest US$500 mln in East Java
South Korea’s Samsung Petrochemical wants to build a US$500 million petrochemical project in East Java in cooperation with PT Trans Pacific Petrochemical Indotama (TPPI).
The two partners plan to establish a joint venture company to handle the project which will have an annual production capacity of 250,000 tons of aromatics.
The new factory will be built in...
May 25th, 2009
Borouge’s to Strategically Invest in China and the Middle East; Expects High…
In spite of the current global downturn, Borouge — a joint venture between the Abu Dhabi National Oil Company (ADNOC) and Borealis — is continuing with its major investment plans in China, and elsewhere in the Middle East and Asia. Borouge is currently tripling its polyolefins manufacturing capacity to 2 mln tpa by 2010 under...
May 25th, 2009
Lanxess India Focusses on Sustainability
Joerg Strassburger, managing director and country representative, Lanxess India Pvt Ltd, made a presentation on ‘Sustainability in India’s chemical industry: Environmental-friendly products’ at the India Chemical Industry Outlook, organised recently by the Chemical Week, the Indian Chemical Council and Chemical&Petrochemical Manufacturers’ Association in Mumbai. Strassburger focussed on the sustainability of the Indian chemical industry...
May 15th, 2009
LANXESS Set to Start its Largest Production Site in India
LANXESS India Private Limited, the Indian subsidiary of specialty chemicals company LANXESS, is on track to start up its largest production site in India at Jhagadia, Gujarat state by 2010. With an investment of around EUR 50 million, the site will have a new ion exchange resins plant and a rubber chemicals plant, which is...
May 13th, 2009
SP Chemicals Writes off Petrochem Project in Vietnam
Poor economic conditions have forced China’s SP Chemicals to abandon plans to construct a US$1.5 bln naphtha cracker project in Vietnam. Also the plant was with feedstock supply from the company’s Chinese facility. But Beijing’s stimulus plan has made redundant the company’s plan to feed its downstream plant in Jiangsu province from Vietnam as feedstock...
May 12th, 2009
China Latest Polyether Polyols Capacity in 2009
In 2009, several new polyether polyols facilities will go on stream in China. The new capacities include: 60 ktpa polyether polols of Shanghai Fujia Fine Chemicals; 50 ktpa capacity of Sinochem Taicang Chemical Industry; 50 ktpa capacity of Nanjjing Hongbaoli; 160 ktpa capacity of Shandong Dongda and 30 ktpa capacity of Zhejiang Yongjie.
Market players claim...
May 7th, 2009
Asian Phenol-acetone Supplies to Tighten May-June on Turnarounds
Phenol-acetone supplies in Asia will tighten over May and June as Japanese, South Korean and Chinese producers take their plants offline for scheduled maintenance this month.
South Korea’s Kumho P&B Chemicals will shut its three phenol-acetone lines in Yeosu from May 8 to May 22. The company was operating its lines at 85% of production capacity...
May 7th, 2009
Mitsubishi Plastics, QUADRANT in Strategic Alliance to Intensify Engineering …
Mitsubishi Plastics, Inc. (Japan) recently announced that it has entered into a strategic alliance with certain members of the board of directors of QUADRANT AG (Switzerland), the world’s largest manufacturer of engineering plastic products (EPP). As per the arrangement, Aquamit B.V (Netherlands) - a company equally owned by Mitsubishi Plastics, Inc. and a Swiss group...
May 6th, 2009
BASF Reconsiders Timing of Major China Chemical Plant
Chemical giant German BASF (BASF.DE) on Tuesday said it was reconsidering the timing of a new major chemical plant in southwestern China, as the ongoing global economic crisis limited demand.
In 2006, the world’s largest chemical company said it planned to erect a 400,000-tonne-per-year MDI plant in the municipality of Chongqoing, with startup slated for 2010.
MDI...
May 6th, 2009
Mitsubishi Plastics Buys Quadrant in 50/50 Deal
Semi-finished engineering plastics supplier Quadrant is being acquired by a 50/50 partnership formed of Japan’s Mitsubishi Plastics and a group of the company’s founders and directors. The $148m deal, priced at $76 a share, is being carried out through Aquamit, an Amsterdam-based firm.
With no anti trust issues, the deal is expected to close this summer.
The...
May 5th, 2009
BASF Reconsiders Timing of Major China Chemical Plant
Chemical giant German BASF on Tuesday said it was reconsidering the timing of a new major chemical plant in southwestern China, as the ongoing global economic crisis limited demand.
In 2006, the world’s largest chemical company said it planned to erect a 400,000-tonne-per-year MDI plant in the municipality of Chongqoing, with startup slated for 2010.
MDI is...
May 4th, 2009
Leading Chinese Oil Refiners Could Add 12.9 Million Barrels of Capacity in 10 Years
Chinese industry insiders estimate that in the next 10 years, the country will see 12.9 million barrels per day (BBL/d) of additional oil-refining capacity. By contrast, China’s consumption of refined oil in the same time span is only expected to increase by 3% annually. As a result, experts say China could be setting itself up...
May 4th, 2009
Praxair China Sets up Joint Venture with Sinopec
Praxair, Inc. has announced that its wholly-owned subsidiary, Praxair (China) Investment Co., Ltd., has set up a joint venture in Guangzhou, southern China, with China Petroleum & Chemical Corporation (Sinopec).
The joint venture, Praxair-GPC Industrial Gases Co. Ltd., will produce, sell and distribute industrial gases such as oxygen, nitrogen, and argon for a wide range of...
Apr 30th, 2009
China North East Petroleum Announces Preliminary 2009 First Quarter Production Results
China North East Petroleum Holdings, Limited (OTC Bulletin Board: CNEH; ‘CNEH’), a leading oil producing company in Northern China, today announced preliminary oil production results for the first quarter of 2009.
The Company’s crude oil production in the first quarter of 2009 totaled 221,688 barrels, a 93% increase compared to 114,862 barrels in the first quarter...
Apr 30th, 2009
Asia Naphtha-India IOC Offers May-Jun; More Ex-Haldia
Indian Oil Corp (IOC) is offering 45,000 tonnes of naphtha for May-June loading from two ports in a tender closing on May 6, traders said on Wednesday.
The state-owned company is offering 30,000 tonnes for June 2-4 lifting from Kandla, and a second cargo from Haldia for May loading, this time for May 19-22.
IOC regularly exports...
Apr 30th, 2009
Japan’s Teijin to Drastically Restructure Some Plastics Businesses
Hit by what it calls sharply deteriorating performance in recent months, diversified Japanese chemical firm Teijin Group said it wants to “drastically restructure” some plastics businesses, including PET film and fibres and polycarbonate resin.
Tokyo-based Teijin said it wanted to make a long-term shift away from those commodity materials, which now are 50% of sales, and...
Apr 29th, 2009
CNPC to Join Hands with Shaanxi Yanchang Petroleum for Ethylene Project
China National Petroleum Corporation (CNPC) plans to join hands with Shaanxi Yanchang Petroleum (Group) Co. Ltd. to build an ethylene plant at an investment outlay of RMB 23 bln. To be located in Yan’an City, Shaanxi Province it is planned with a capacity to produce 1 mln tpa ethylene. Approval is awaited from China’s National...
Apr 24th, 2009
China XD Plastics to Increase Annual Production Capacity to 70,000 Tons
China XD Plastics Company Ltd. (”China XD” or “the Company”), as the largest Chinese manufacturer engaged in the development, manufacturing, and distribution of modified plastics primarily for use in automotive applications, today announced that the Company expects to increase its annual production capacity to 70,000 tons with the addition of 7 production lines acquired at...
Apr 24th, 2009
China Petrochemical Sector Sends Clear Signals of Warming Up in Q1
China’s petrochemical sector has shown marked signs of warming up in the first quarter, according to the latest statistics from the Ministry of Industry and Information Technology. The combined crude oil, natural gas and product oil output of the coun try’s four major oil producers went up 10.6 percent, 5.5 percent and 1 3.7 percent...