Indian Oil Corporation (IOC) is planning to set up a foodgrain-based, mega scale ethanol production facility each in Indian states of Telangana and Andhra Pradesh with an estimated total investment of ₹1,200 crore ($164.3 million). Spoilt and surplus foodgrain, sourced from the Food Corporation of India (FCI), will serve as feedstock to make ethanol, for … Read more
Rama Phosphates has commenced commercial production of Sulphuric Acid and its derivatives from the new manufacturing facility (Unit-2) at its existing factory premises at Indore with effect from February 23, 2021. With this capacity addition of 55,000 tons per annum (TPA) from Unit-2, the company’s overall annual production capacity of Sulphuric Acid would be 155,000 … Read more
India’s Reliance Industries Ltd. (RIL) has started carving out its new oil-to-chemicals (O2C) operation into an independent unit with a $25 billion loan from the parent company. The wholly owned unit’s assets will be funded by the interest-bearing loan, which will be an “efficient mechanism to upstream cash, including any potential capital receipts,” in the … Read more
INOX Air Products (INOX AP) announced major plans to build eight new air separation units (ASUs) across India as part of a ₹2,000 crore ($276m) development that will double its liquid medical oxygen production. Marking India’s largest greenfield investment plan for the industrial gases sector, the ASUs will produce liquid oxygen, liquid nitrogen and liquid … Read more
Japan’s Sumitomo Chemical is licensing out its high-pressure production process for low density polyethylene (LDPE) and ethylene vinyl acetate (EVA) to Russian producer Kazan Organichesky Sintez PJSC (KOS), the Japanese firm said. Financial details of the contract and the project’s timeline were not disclosed. KOS is installing a new 100,000 tonne per year PE/EVA facility … Read more
Phillips Carbon Black Limited (PCBL) has commissioned two specialty black lines at Palej, in Gujarat. The two specialty black lines are for the production of a wide range of specialty black products totalling about 32,000 MTPA to service the growing needs of its customers. PCBL is India’s largest carbon black manufacturer having 4 plants at … Read more
Encina Development Group and Flint Hills Resources, a Koch Industries company, have signed a non-binding term sheet for manufacturing renewable chemicals and fuels from waste plastic. The term sheet contemplates that the parties may enter into a definitive agreement that includes building a waste plastic to renewable chemicals and renewable fuels plant in Corpus Christi, … Read more
Chemcon Speciality Chemicals Limited, an Indian specialty chemicals manufacturer announced its results for the third quarter ended December 31, 2020. Q3 Results- QoQ The company’s net profit increased 5.71% to Rs 16.47 crores ($2.3 million) for the period ended December 31, 2020 as against net profit of Rs 15.58 crores ($2.1 million) for the previous … Read more
Specialty chemicals company LANXESS signed a binding agreement to acquire 100% shares in Emerald Kalama Chemical on February 14, 2021. Emerald Kalama is a globally leading manufacturer of specialty chemicals, especially for the consumer segment, and is majority-owned by affiliates of the US private equity firm American Securities LLC. The enterprise value of Emerald Kalama … Read more
IG Petrochemicals, an established market leader in Phthalic Anhydride (PA) in India announced a capital outlay of Rs 600 crore ($82.6 million) to expand its Phthalic Anhydride capacity. The Board of I G Petrochemicals at its meeting held on 09 February 2021 has approved the greenfield expansion of Phthalic Anhydride up to 80,000 MTPA & … Read more
Shell committed to expanding its chemical business on Thursday, setting targets for the division as it moves the company towards net carbon neutrality. In a strategy update, the company’s CEO Ben van Beurden laid out targets to increase cash generation from chemicals by $1-2 billion per year and reduce exposure to commodity chemicals by around … Read more
India’s Bodal Chemicals Limited has entered into Business Transfer Agreement (BTA) with Mawana Sugar Limited (MSL) to acquire its chlor-alkali plant known as Siel Chemical Complex (SCC) at Rajpura, Punjab. Bodal stated that the proposed acquisition will help the Company in diversification of its existing chemicals product line by adding new products. SCC is engaged … Read more
Lonza AG has entered into a definitive agreement with Bain Capital and Cinven to acquire Lonza’s Specialty Ingredients business and operations for an enterprise value of CHF 4.2 billion ($4.7 billion). Both Bain Capital and Cinven have strong experience in the industrials sector and an established track record of successful investments in portfolio companies. The … Read more
Lummus Technology announced an award for its Indmax Fluid Catalytic Cracking (FCC) technology from Numaligarh Refinery Ltd. (NRL), a subsidiary of Bharat Petroleum Corporation Ltd. (BPCL). The Indmax FCC unit is part of NRL’s refinery expansion project, which will increase crude processing capacity from the current 3 MMTPA to 9 MMTPA at their facilities in … Read more
Privi Speciality Chemicals Limited (formerly Fairchem Speciality Ltd), an Indian specialty chemicals manufacturer announced its results for the third quarter ended December 31, 2020. Q3 Results- QoQ The company’s net profit increased 10.8% to Rs 18.82 crores ($2.6 million) for the period ended December 31, 2020 as against net profit of Rs 16.98 crores ($2.3 … Read more
Rosneft Oil Company and BP have signed a Strategic Collaboration Agreement focused on supporting carbon management and sustainability activities of both companies. The agreement builds on years of partnership between the two companies and formalises key elements of their collaboration on sustainability and work to identify carbon reduction activities and low carbon opportunities. Based on … Read more
UPL Ltd., an Indian fertilizer manufacturer announced its results for the third quarter ended December 31, 2020. Q3 Results- QoQ The company’s net profit increased 75.79% to Rs 944 crores ($129.6 million) for the period ended December 31, 2020 as against net profit of Rs 537 crores ($73.7 million) for the previous quarter. Net sales … Read more
ExxonMobil has created a new business to commercialize its extensive low-carbon technology portfolio. The new business, ExxonMobil Low Carbon Solutions, will initially focus on carbon capture and storage, one of the critical technologies required to achieve net zero emissions and the climate goals outlined in the Paris Agreement. ExxonMobil Low Carbon Solutions is advancing plans … Read more
Air Liquide has completed the construction of the world’s largest PEM (Proton Exchange Membrane) electrolyzer in Bécancour, Québec, Canada. Supplied with renewable energy, this unit is now producing up to 8.2 tonnes per day of low-carbon hydrogen. With this large-scale investment, the Group confirms its long-term commitment to the hydrogen energy markets and its ambition … Read more
Indian Oil Corporation Ltd. (IOCL), one of India’s largest petrochemicals manufacturer announced its results for the third quarter ended December 31, 2020. Petrochemicals Segment Q3 Results- QoQ The segment’s profit before taxes (PBT) grew 75.74% to Rs 1,720.96 crores ($235.9 million) for the period ended December 31, 2020 as against PBT of Rs 979.26 crores … Read more