Lotte Chemical Titan Holding’s Indonesian subsidiary, PT Lotte Chemical Indonesia (LCI), has secured a 12-year loan facility worth $2.4bn to finance the development of its integrated petrochemical facility, also known as the Lotte Chemical Indonesia new ethylene project. The loan was arranged with the Export-Import Bank of Korea, Korea Trade Insurance Corp, and other commercial … Read more
International private equity firm, Cinven, announced that it has signed an agreement with Sika AG to acquire MBCC Group’s Admixtures business. MBCC Admixtures is a leading global manufacturer of concrete admixtures, as well as other sustainable solutions for the construction industry. The business provides value-added technology and chemistry expertise to improve the performance of construction … Read more
Anupam Rasayan, a leading manufacturer of specialty chemicals in India, has signed a memorandum of understanding (MoU) with the Government of Gujarat to set up three new chemical plants. The company will invest Rs. 67 billion in the brownfield expansions, which will be located in Surat and Bharuch in Gujarat. The plants are expected to … Read more
The Indian Oil Corporation (IOCL) has announced plans to set up a petrochemical complex in Paradip, Odisha. This will be the largest-ever investment at a single location by the oil marketing company, with an estimated cost of Rs 610.77 billion. The complex will include a world-scale cracker unit and downstream process units, which will produce … Read more
DOMO Chemicals has broken ground on a new plant in Haiyan, Jiaxing, Zhejiang, China, which will produce TECHNYL polyamide-based grades. The €14m ($16.7m) plant, covering a total area of 40,000 sq m, is expected to be fully operational by the end of Q1 2024 and will be gradually expanded to reach a total capacity of … Read more
Larsen & Toubro (L&T) has secured multiple offshore contracts from an overseas client for its hydrocarbon business, with major contracts in the range of Rs 50-70 billion. The company will be responsible for the engineering, procurement, construction, and installation of offshore structures, as well as for upgrading existing facilities. L&T Energy Hydrocarbon covers the entire … Read more
Nouryon announced that it has commissioned a chlorine dioxide plant to modernize and expand the Arauco pulp mill in Chile. The project, called the MAPA project, is a $2.35 billion pulp mill and is the largest industrial project in the Biobío region. The new plant adds 1.56 million tons per year of eucalyptus pulp capacity … Read more
OCI Global and Lotte Fine Chemical (LFC) have announced a collaboration to provide bio-ammonia for the chemical and power sectors, aiming to decarbonize their value chain. OCI will supply LFC with bio-ammonia from its Texas production capacity, starting this year. LFC will import OCI’s ISCC Plus bio-ammonia, derived from bio-methane, for domestic use in South … Read more
Corrosion Innovations, LLC, a leading global player in the corrosion-prevention industry, announced on March 16, 2023, that it has acquired the ChlorRid™ product line from Milliken & Company, a major player in the coatings additives business. The ChlorRid™ product line includes surface decontamination, passivation products, and salt testing kits for soluble salt detection and removal. … Read more
Navin Fluorine Advanced Sciences Limited (NFASL), a wholly-owned subsidiary of Navin Fluorine International Limited, has announced that it has approved a capital expenditure of Rs 4.5 billion to set up a new hydrofluoric acid (HF) capacity at Dahej. The new facility will have a capacity of 40,000 tonnes per annum, which will be in addition … Read more
GAIL (India), a leading natural gas company with diverse interests across the natural gas value chain, has signed an MoU with Shell Energy India to explore opportunities in different facets of the energy value chain. The move is aimed at achieving improved sustainability in GAIL’s business operations. To diversify the feedstock for its petrochemical plant, … Read more
Univar Solutions Inc. and Apollo announced that funds managed by affiliates of Apollo have entered into a definitive merger agreement to acquire the Company in an all-cash transaction that values the Company at an enterprise value of approximately $8.1 billion. The transaction includes a minority investment from a wholly-owned subsidiary of the Abu Dhabi Investment … Read more
Aramco, one of the world’s leading integrated energy and chemicals companies, and Linde Engineering, a global leader in the production and processing of gases, announced that they have signed an agreement to jointly develop a new ammonia cracking technology. The collaboration between the two companies will combine Linde Engineering and Aramco’s experience and capabilities in … Read more
LyondellBasell announced it has successfully started up the world’s largest propylene oxide (PO) and tertiary butyl alcohol (TBA) unit in Texas. These new assets on the U.S. Gulf Coast have an annual capacity of 470 thousand metric tons of PO and one million metric tons of TBA and its derivatives. “The world-leading capacity of the new … Read more
Toyo Ink SC Holdings Co., Ltd., the Japan-based parent company of the specialty chemicals company Toyo Ink Group, announced that, on March 10, 2023, it and its consolidated subsidiary Toyo Ink (Thailand) Co., Ltd. concluded a share purchase agreement to wholly acquire Thai Eurocoat Ltd., the top manufacturer of external coatings for non-printed cans in … Read more
The Board of Directors of Madhya Bharat Agro products Ltd (MBAPL) has given in-principal approval for setting up a new 1000 TPD DAP/NPK Fertilizers with Phosphoric acid Plant. The decision was made during a meeting held on March 14, 2023, which was concluded in a brief time of 45 minutes. According to company officials, the … Read more
CHIMEI Chemical Co., Ltd. announced the official start of mass production at its newly-built PS production lines in Zhangzhou on March 10. These production lines, with an annual capacity of 350,000 tons, are expected to be fully operational in the second half of this year. Combined with the PS production capacity of Zhenjiang CHIMEI, they … Read more
LyondellBasell and Mepol Group announced they have entered into a definitive agreement for LyondellBasell to acquire Mepol Group, a manufacturer of recycled, high-performing technical compounds located in Italy and Poland, consisting of Mepol S.r.l. and its subsidiaries Polar S.r.l. and Industrial Technology Investments Poland Sp.z.o.o. “This acquisition demonstrates LyondellBasell’s commitment to move the circular economy … Read more
South Korean President Yoon and Aramco President & CEO Amin H. Nasser attended the groundbreaking ceremony for the $7 billion Shaheen petrochemical project in Ulsan, South Korea. Ministers and senior officials from both countries also attended the milestone event. The Shaheen project, which was announced in November 2022, is being developed by Aramco affiliate S-OIL … Read more
German chemical company BASF has started producing its first bio-based polyol, Sovermol®, at its Mangalore site in India. The product meets the increasing demand for eco-friendly solutions in various industries, such as New Energy Vehicles (NEV), windmills, flooring, and protective industrial coatings in the Asia Pacific region. The Sovermol production facility is operational after comprehensive … Read more