McDermott, a global leader in engineering and construction services, has been awarded a significant project management consultancy (PMC) contract by India Oil Corporation Limited (IOCL). The contract entails the development of the Maleic Anhydride (MAH) unit at the Panipat Refinery and Petrochemical Complex, situated approximately 62 miles (100 kilometers) from New Delhi, India. Scope of … Read more
GHCL Ltd, one of the largest soda ash and industrial salt manufacturers in India, is planning to invest Rs. 65 billion to establish a one-million-tonne soda ash plant in Kutch, Gujarat, over a period of six years. With this investment, the company aims to nearly double its production capacity, targeting a 30% market share in … Read more
TANFAC Industries Limited has obtained the necessary approval from the Tamil Nadu Pollution Control Board to proceed with the proposed expansion of their Hydrofluoric Acid Plant in Cuddalore. The expansion will increase the plant’s capacity by 14,850 MT, with an estimated project cost of Rs 1 billion. This will help the Company to complete the … Read more
German materials manufacturer Covestro inaugurated a new production line for high-performance Thermoplastic Polyurethanes (TPUs) that will be used for the production of paint protection films (PPF). The new line is located at the company’s existing site in Changhua, Taiwan. The investment and the expansion of its production capacities for high-performance Thermoplastic Polyurethanes at the site … Read more
Johnson Matthey (JM), a global leader in sustainable technologies, and Hystar, a Norwegian high-tech hydrogen company, have signed a three-year strategic supply agreement to ramp up renewable (green) hydrogen production. This delivers on JM’s published milestone of winning at least two strategic partnerships in Hydrogen Technologies by the end of 2022/23. JM will supply membrane … Read more
Petrofac, a leading international service provider to the oil and gas industry, has been granted a conditional award by STEP Polymers SPA, a wholly-owned subsidiary of Sonatrach, to undertake a significant petrochemical project in Algeria. The project, valued at approximately $1.5 billion, will contribute to the Arzew Industrial Zone’s development, located west of Algiers. This … Read more
Bharat Petroleum Corporation (BPCL) has recently obtained approval from its board of directors for a significant undertaking known as the Ethylene Cracker Project. Ethylene Cracker Project at Bina Refinery This ambitious project encompasses the establishment of downstream petrochemical plants and the expansion of the Bina Refinery in Madhya Pradesh State. With a projected capital expenditure … Read more
Royal Vopak, a leading global provider of storage and handling solutions for liquid chemicals, gases, and oil products, has announced a binding agreement to sell its terminal in Savannah, USA to BWC Terminals, a US-based bulk liquids storage company. This divestment aligns with Vopak’s strategic goals to enhance its financial performance, expand its presence in … Read more
Graforce, a German hydrogen technology company, and Worley, a leading global engineering and project delivery business, are collaborating to scale methane electrolysis using plasmalysis technology. Plasmalysis is a breakthrough technology that converts hydrocarbons like natural gas, LNG, and flare gas into hydrogen without emitting CO2 or other greenhouse gases into the atmosphere. This allows gas … Read more
BASF has announced an investment in the production of water-based anode binders to support the lithium-ion battery industry. The new binders will be produced at two existing dispersion plants in Jiangsu and Guangdong, China. In addition to their existing product portfolios, the two plants will produce two innovative anode binders: Licity® and Basonal Power® based … Read more
Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced Alujain National Industrial Co. has selected its C3 CATOFIN® propane dehydrogenation (PDH) technology for their new propylene plant in Yanbu, Kingdom of Saudi Arabia (KSA). This is the first time Alujain will license Lummus’ PDH technology at its Yanbu complex. “We are … Read more
Braskem, the Brazilian petrochemical company, has received a joint non-binding offer from Apollo Global Management and Abu Dhabi National Oil Company (ADNOC). However, the terms of the offer have divided opinion in the market, with creditor banks not unanimous on the figures, and doubts remain as to whether Petrobras will agree to sell its stake … Read more
INEOS Inovyn and HyMove have announced their intention to deliver high-purity, low-carbon hydrogen, produced at the INEOS Inovyn site in Tavaux (France), to the transport sector across Eastern France. The project, which is known as ‘ReadHy to Move’ will help decarbonize passenger and freight transport in line with French national emission reduction targets. INEOS Inovyn … Read more
Allkem and Livent, two lithium companies, are set to merge and form the world’s third-largest miner of lithium, a key metal used in batteries that power electric vehicles and high-tech devices. This all-share merger creates a new company with a valuation of US$10.6 billion and a projected production capacity of 248,000 tonnes of lithium carbonate … Read more
DSM and Firmenich have completed their merger, resulting in the creation of DSM-Firmenich, a new company that combines the strengths of both firms. The merger will allow the company to offer a more extensive range of products and services to its customers in four distinct business units. Business Units of DSM-Firmenich The four business units … Read more
Arkema, a leading chemical company, has released its financial results for Q1 2023. Despite continued low volumes and weak demand in Europe, the company has achieved a solid financial performance in line with its full-year guidance for 2023. Sales Decline, But Prices Remain Resilient Arkema reported sales of €2.5 billion for the first quarter of … Read more
UPL Ltd., a leading agrochemical company, has recently reported its financial results for Q4 FY23 and the full fiscal year. The company’s PAT (Profit After Tax) for the quarter was INR 7.92 billion, a significant decline of 43% compared to the corresponding period last year when it was INR 13.79 billion. However, the company’s revenue … Read more
Canlak Coatings Inc., a portfolio company of SK Capital Partners and leading formulator and manufacturer of high-quality wood coating systems announced the acquisition of Ceram-Traz Corporation d.b.a Ceramic Industrial Coatings. Ceramic Industrial Coatings is a manufacturer of proprietary wood coating systems and related CASE (coatings, adhesives, sealants, and elastomers) products. The acquisition of Ceramic Industrial … Read more
Evonik has begun construction of a new production plant for alkoxides in Southeast Asia. The mid-double-digit million-euro investment will enhance supply security for customers in the region and further strengthen the company’s global alkoxides business. The company is expanding its production capabilities in response to the growing demand for alkoxide catalysts, which are primarily used … Read more
Belgian chemicals group Solvay has reported strong financial results for Q1 2023, with higher-than-expected net sales and underlying EBITDA. Although lower volumes impacted the company’s shares, Solvay’s ongoing focus on higher pricing in all segments has helped to offset the negative effects of softer demand across several end markets. Net Sales in Q1 2023 Grew … Read more