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
Nayara Energy, a company backed by Russian oil major Rosneft, announced that it is well on track for its entry into the petrochemicals sector. At its Vadinar refinery in Gujarat, Nayara is constructing Phase 1 of the project, which includes the construction of a 450 ktpa polypropylene plant, a propylene recovery unit, upgrades to the … Read more
India Pesticides Limited has received environment clearance to build its agrochemicals and intermediates plant in Uttar Pradesh (Northern India). An environmental permit has been granted by the Ministry of Environment, Forest and Climate Change (Impact Assessment Division), Government of India to the company’s wholly-owned subsidiary Shalvis Specialties Ltd (SSL). This Hamirpur (UP) plant is purposed … Read more
JK Paints and Coatings (wholly owned subsidiary of JK Cement) has entered into a share purchase agreement with Acro Paints and its shareholders to acquire 60% controlling stake in the company. Acro Paints is a leading manufacturer in Northern India, of Architectural and High-performance paints and coatings. This acquisition is a step towards fast-tracking JK … Read more
Amcor announced it completed the sale of its three factories in Russia to HS Investments, a Russian-based investor, after receiving all necessary regulatory approvals and cash proceeds, including receipt of closing cash balances. The cash and debt free consideration value is €370 million. This follows Amcor’s previously announced decision to pursue the orderly sale of … Read more
State-owned power generation company NTPC has signed a Memorandum of Understanding (MoU) with Tecnimont Private Limited – which is the Indian subsidiary of Italy’s Maire Tecnimont Group. The objective of the MOU, which is non-binding in nature, is to jointly evaluate and explore the possibility to develop a commercial-scale green methanol production facility at NTPC. … Read more
Meghmani Organics Limited’s wholly owned subsidiary MCNL has signed a licensing agreement with one of India’s leading domestic fertiliser manufacturers to produce nano urea fertiliser, the company said on December 23. Nano urea is a liquid fertilizer and is effective in enhancing the nutritional quality, crop’s productivity and is environmentally safe. MCNL will incur a … Read more
Versalis S.p.A., Eni’s chemical company, has acquired the technology to produce enzymes for second-generation ethanol from Royal DSM N.V. The agreement has a strategic value for Versalis as it integrates with proprietary Proesa technology, applied at the Crescentino plant for the production of sustainable bioethanol and chemical products from lignocellulosic biomass, improving the competitiveness of … Read more
With the execution of Share Purchase Agreement for sale of India Glycols Limited’s entire investment in equity shares of joint venture namely Kashipur Infrastructure and Freight Terminal Private Limited to Gateway Distriparks Limited. Upon fulfillment of conditions precedent under the SPA, on 23rd December, 2022, the Company has transferred 42.31% shareholding (i.e. 26,74,418 shares) of … Read more
Lummus Technology announced that its licensed TC2CTM crude-to-chemicals technology will move forward in its first commercial deployment through S-Oil’s Shaheen Project in South Korea. S-Oil recently confirmed its final investment decision on the Shaheen Project. Once complete, Shaheen will be one of the world’s largest ethylene plants and the first commercial deployment of TC2C, a … Read more
Iberdrola Australia and hydrogen developer ABEL Energy will build a green hydrogen and green methanol production plant at Bell Bay in northern Tasmania (Australia). The project, called Bell Bay Powerfuels, is backed by the Australian government and will involve an investment of €1.1 billion. Bell Bay Powerfuels will produce 200,000 tonnes of green methanol per … Read more
Avaada Ventures, an integrated energy platform, has agreed to establish a Rs 225 billion Green Ammonia Plant in Uttar Pradesh by 2026. On December 6, 2022, Avaada Ventures Pvt. Ltd. and Uttar Pradesh State Industrial Development Authority signed a Memorandum of Understanding. The facility will have a production capacity of 0.5 million tonnes per year … Read more
Saudi Aramco, China Petroleum and Chemical Corporation (Sinopec) and SABIC are exploring collaboration across refining and petrochemical projects in China and Saudi Arabia. Aramco and Sinopec have signed heads of agreement for a greenfield project in Gulei, Fujian Province, which plans to include a 320,000 barrels-per-day refinery and 1.5 million tons-per-year petrochemical cracker complex. It … Read more
The Saudi Arabian Oil Company (Aramco) and TotalEnergies have taken the final investment decision for the construction of a world scale petrochemical facility in Saudi Arabia. The ‘Amiral’ complex will be owned, operated, and integrated with the existing SATORP refinery located in Jubail on Saudi Arabia’s eastern coast. The investment decision is subject to customary … Read more
UPL Ltd., announces the completion of investment of Rs 24.74 billion ($300 Mn) by KKR for 13.33% stake in Advanta Enterprises. This is a part of the larger corporate realignment exercise announced in October 2022 to create four distinct business platforms – Global Crop Protection (ex-India), India Agtech, Global Seeds and Manufacturing & Specialty Chemicals … Read more
The Board of Directors of Smartchem Technologies Limited (STL) at its meeting held approved a Corporate Restructuring Plan with the objective of unlocking growth potential of each of the businesses. STL is a wholly owned subsidiary of Deepak Fertilisers and Petrochemicals Corporation Limited, one of India’s leading producers of industrial chemicals and fertilisers (DFPCL). Commenting … Read more
Arkema announced on Thursday that the company will double polyester resins capacity in its Navi Mumbai facility in India. The move reinforces its leadership position in the global powder coatings market and its commitment to developing very low-VOC technologies. Arkema invested in the Navi Mumbai facility in early 2019 to expand geographic coverage of its … Read more
INEOS Olefins & Polymers USA announced it has entered into a renewable power purchase agreement which will enable the construction of a new 310-megawatt solar project located in north central Texas. The INEOS Hickerson Solar Farm will be constructed, owned and operated by a subsidiary of NextEra Energy Resources, LLC, the world’s largest generator of … Read more
Gulshan Polyols Limited bagged ethanol supply order from oil marketing companies (OMCs) and Nayara Energy for ethanol blended petrol (EBP). Gulshan Polyols Limited had participated in a tender floated by OMCs inviting various molasses and grain-based distilleries for supplying Ethanol till 31/10/2023 at their various locations across the country. After the closure of the Second … Read more
Air Products and The AES Corporation announced plans to invest approximately $4 billion to build, own and operate a green hydrogen production facility in Wilbarger County, Texas. This mega-scale renewable power to hydrogen project includes approximately 1.4 gigawatts (GW) of wind and solar power generation, along with electrolyzer capacity capable of producing over 200 metric … Read more