Meghmani Organics Limited announced commissioning of Phase 1 of Titanium Dioxide (TiO2) plant at Dahej, Gujarat with an installed capacity of 16,500 metric tonnes per annum (MTPA). Meghmani had acquired Kilburn Chemicals Limited for Rs 1.32 billion in December 2021 by making 100% upfront payment. Post which the company incurred total capex to the tune … Read more
Meghmani Organics Ltd, an Indian specialty chemicals manufacturer announced its results for the third quarter ended Dec 31, 2022. Q3 Results- QoQ The company’s net profit declined by 87.4% to Rs 83.54 million for the period ended Dec 31, 2022 as against net profit of Rs 661.49 million for the previous. Net sales decreased 14.6% … Read more
Atul Ltd, an Indian specialty chemicals manufacturer announced its results for the third quarter ended Dec 31, 2022. Q3 Results- QoQ The company’s net profit declined by 30.4% to Rs 1.05 billion for the period ended Dec 31, 2022 as against net profit of Rs 1.51 billion for the previous quarter. Net sales decreased 15% … Read more
Reliance Industries Ltd announced its O2C Business segment results for the third quarter ended Dec 31, 2022. Q3 Results- QoQ The segment’s EBIDTA grew 16.36% to Rs 139.26 billion for the period ended Dec 31, 2022 as against EBIDTA of Rs 119.68 billion for the previous quarter due to weak margins. Net sales decreased 9.4% … Read more
Nuberg EPC, the leading Indian Global EPC company announced that it has been awarded 550 TPD (tons per day) Sulfuric Acid Plant project on EPC based contract in Neratovice, Czech Republic. The project is owned by Spolana s.r.o, a leading chemical manufacturer located on the Elbe riverbank in Neratovice, Czech Republic. Spolana a.s is one … Read more
NACL Industries Limited has established a wholly owned subsidiary, NACL Industries (Nigeria) Limited (NINL), which has been duly registered in Nigeria. The Nigerian subsidiary will primarily focus on agricultural input product sales and marketing in Nigeria and other African countries. The company has purchased the entire share capital of the NINL (along with one of … Read more
Larsen & Toubro, an Indian multi-national engaged in EPC Projects, Hi-Tech Manufacturing, and Services, announced the signing of a Memorandum of Understanding (MoU) with the Norway-based H2Carrier (H2C) to co-operate towards developing floating green ammonia projects for industrial-scale applications with an aim to decarbonise the global economy. H2C has proven expertise in developing and integrating … Read more
Aether Industries announced the commercialization of a specialty chemical manufacturing facility in Surat, Gujarat, on Monday. The total capital expenditure for the site is estimated to be around Rs 1.90 billion. Aether Industries has raised Rs 1.63 billion from the initial public offering, representing a portion of the total investment for the new facility (IPO). … Read more
TCL Specialties LLC (TCLS), a subsidiary of TCL (Thirumalai Chemicals Limited, India), will be breaking ground this month for two manufacturing facilities in Marshall County, West Virginia – one to make food ingredients (malic and fumaric acids) and the second to make maleic anhydride. TCL Chairman Sarathy said these facilities will be located just outside … Read more
Asian Paints has incorporated a wholly owned subsidiary named, Asian Paints (Polymers) on 11 January 2023. The company has incorporated the new subsidiary for the purpose of setting up a manufacturing facility for Vinyl Acetate Ethylene Emulsion (VAE) and Vinyl Acetate Monomer (VAM) in India. The authorised share capital of the new subsidiary is Rs … Read more
BASF has broken ground on the third and final phase of the methylene diphenyl diisocyanate (MDI) expansion project at its Verbund site in Geismar, Louisiana, announced in July 2022. The company will increase production capacity to approximately 600,000 metric tons per year by the middle of the decade to support the ongoing growth of its … Read more
GHCL Ltd. has received the requisite regulatory consent for raising its production capacity of Soda Ash by 100,000 tonnes per annum, the company informed the stock exchanges on Monday. The specialty chemicals and textiles manufacturer said that it has been granted the requisite regulatory consent amendment for increasing the production capacity of its Soda Ash … Read more
Indian government has announced that the country’s first-ever coal gasification-based Talcher Fertilizer Plant in Odisha will be ready to be dedicated to the nation by October 2024. Speaking at the occasion, Union Minister of Chemicals & Fertilizers, Dr. Mansukh Mandaviya said that “Government is taking significant steps in making country Aatmanirbhar. Fertilizer is sector is … Read more
Asian Paints announced that its Board of Directors have approved setting up of a new water-based paint manufacturing facility at an approximate investment of Rs 20 billion. The company is exploring the possibility of making the investment and setting up the manufacturing facility in Madhya Pradesh, subject to the grant of requisite incentives, other approvals … Read more
On Wednesday, India approved a 197.4-billion-rupee ($2.4 billion) incentive plan to promote the green hydrogen industry in an effort to reduce emissions and become a major exporter in the field. Green hydrogen, also known as renewable hydrogen, has the potential to be used as a fuel. It is produced by electrolysis of water using renewable … Read more
KBR announced that its proprietary Vinyl Acetate Monomer (VAM) technology has been selected by Asian Paints Limited for a grassroots production facility in India. Under the terms of the contract, KBR will provide technology licensing, basic engineering, proprietary equipment, and catalyst for a 100,000 tons per annum VAM facility. KBR’s VAM technology is offered in … Read more
On 3 January 2023, Arkema finalized the divestment of Febex, a company specialized in phosphorus-based chemistry, to Belgian group Prayon. Febex is a global player in phosphorus derivatives (high purity phosphoric acid, sodium hypophosphite and derivatives), used primarily in electronics and in the pharmaceuticals industry. Part of the Performance Additives Business Line and with little … Read more
On Tuesday, Safex Chemicals Ltd., a manufacturer of agrochemicals, announced plans to invest Rs 1 billion in AgCare Technologies, its new agri-tech division, over the next three to four years to launch an interactive tech platform and establish a manufacturing facility. Speaking to PTI, the company’s Group Director Piyush Jindal said, “We are investing Rs … Read more
Kanoria Chemicals & Industries Limited has announced that commercial production of the Phenolic Resin Plant at Ankleshwar, Gujarat with 6500 MTPA capacity, will commence from 1st January 2023. It will be able to produce 6500 MTPA of phenolic resin annually at the Ankleshwar, Gujarat plant. In India, the main business of Kanoria Chemicals & Industries … Read more
INEOS and SINOPEC have completed two of the four significant petrochemical deals announced earlier this year. The two deals are: SECCO joint venture. INEOS has acquired 50% of Shanghai SECCO Petrochemical Company Limited. ABS joint venture. INEOS and SINOPEC have also established a 50:50 joint venture for ABS (Acrylonitrile Butadiene Styrene), based on INEOS’ world … Read more