Asia-Pacific

Asahi Kasei Mitsubishi to Restart Naphtha Cracker in Mizushima

by

Asahi Kasei Mitsubishi Chemical Ethylene, a joint venture of Asahi Kasei Corp and Mitsubishi Chemical Corp, said it will restart operation at its naphtha cracker in Mizushima, Okayama prefecture on 24 January, after completing planned repair of the unit’s troubled refrigeration system. The naphtha cracker automatically shut down on 14 January after it detected a … Read more Asahi Kasei Mitsubishi to Restart Naphtha Cracker in Mizushima

Showa Denko Restructures Domestic Production of UP and VE Resin

by

Showa Denko K.K. (SDK) has decided to terminate operation of its production lines to synthesize unsaturated polyester resin (UP) and vinyl ester resin (VE) at Isesaki Plant by the end of June 2021. The company will concentrate domestic production of UP and VE at Tatsuno Plant in order to improve profitability of its UP and … Read more Showa Denko Restructures Domestic Production of UP and VE Resin

Shell Chemicals to Explore Polycarbonate Production in Singapore

by

Shell announced it has signed a Memorandum of Understanding with CNOOC Oil & Petrochemicals Co Ltd (CNOOC) to explore its first commercial-scale polycarbonate (PC) production unit, which would be located at the CNOOC and Shell Petrochemical Company (CSPC) joint-venture chemicals complex in Huizhou, China. As an interim step, Shell has started constructing a PC development … Read more Shell Chemicals to Explore Polycarbonate Production in Singapore

INEOS Styrolution to Build World-Scale ABS Plant in China

by

INEOS Styrolution, the global leader in styrenics, has announced plans to build a world-scale acrylonitrile-butadiene-styrene (ABS) plant in Ningbo, China. The new production site will be adjacent to the recently acquired polystyrene plant in Ningbo. After the acquisition of two polystyrene production sites in China from Total in February 2019, INEOS Styrolution embarks on plans … Read more INEOS Styrolution to Build World-Scale ABS Plant in China

Cabot Corp to Acquire China-based CNT Manufacturer

by

Cabot China Limited, a wholly owned subsidiary of Cabot Corporation, entered into an agreement to purchase Shenzhen Sanshun Nano New Materials Co., Ltd (SUSN), a leading carbon nanotube (CNT) producer in China, for approximately $115 million in enterprise value that includes liabilities and contingent payments, company officials announced on Tuesday. “The acquisition significantly strengthens Cabot’s … Read more Cabot Corp to Acquire China-based CNT Manufacturer

ChemChina, Sinochem Merge Agricultural Assets

by

ChemChina and Sinochem are consolidating their agricultural assets into a new holding company to be called Syngenta Group, ChemChina unit Syngenta said on Sunday. Chen Lichtenstein, current president and CEO of Shenzhen-listed crop protection company ADAMA, which will also be incorporated into the new group, will be nominated CFO of the newly formed Syngenta Group. … Read more ChemChina, Sinochem Merge Agricultural Assets

Sinochem Unit gets $1.65 Billion Investment from State Firms

by

Sinochem Energy, a unit of China’s Sinochem Group, has agreed to sell a 20% stake to five state-owned firms for 11.56 billion yuan ($1.65 billion), Xinhua news agency reported. The financial investment arms of Agricultural Bank of China and Industrial Bank of China (ICBC), and Citic Securities Investment Co were the strategic investors, the official … Read more Sinochem Unit gets $1.65 Billion Investment from State Firms

Zhejiang Petroleum to Start Remaining Units at Zhoushan, China

by

China’s Rongsheng said on Tuesday it has started up the remaining units in the first phase of Zhejiang Petroleum & Chemical (ZPC) refinery complex, one of two new major refineries built in China in 2019. Located in east China’s Zhoushan city, the complex is now producing oil products and chemicals to commercial specifications, ZPC stated … Read more Zhejiang Petroleum to Start Remaining Units at Zhoushan, China

Elkem to Acquire Chinese Silicone Elastomers Manufacturer

by

Elkem ASA has entered into an agreement to acquire Polysil, a leading Chinese silicone elastomer & resins material manufacturer with strong positions in baby care and food grade silicones, as well as silicone products for the electronics and medical markets. The companies have agreed an enterprise value for Polysil of up to RMB 941 million … Read more Elkem to Acquire Chinese Silicone Elastomers Manufacturer

LyondellBasell, Sinopec Sign New China JV to Produce PO, SM

by

LyondellBasell has signed a Memorandum of Understanding to form a 50:50 joint venture with China Petroleum & Chemical Corporation (Sinopec), one of the largest integrated energy and chemical companies in China. Under the non-binding MoU, the JV will construct a new propylene oxide (PO) and styrene monomer (SM) unit in Zhenhai, Ningbo, China to serve … Read more LyondellBasell, Sinopec Sign New China JV to Produce PO, SM

Hitachi in Talks to Sell Chemical Business to Showa Denko for $8.8 billion

by

Hitachi Ltd said on Wednesday it would sell its listed chemicals business to electronic materials maker Showa Denko as the Japanese industrial conglomerate overhauls its business portfolio. Hitachi will sell its 51% stake in Hitachi Chemical for 494 billion yen ($4.51 billion) to Showa Denko. Hitachi Chemical is a supplier of materials for semiconductors, displays … Read more Hitachi in Talks to Sell Chemical Business to Showa Denko for $8.8 billion

Evonik and Wynca Break Ground for a New Fumed Silica Plant in Zhenjiang

by

Evonik’s joint venture with Chinese company Wynca – Evonik Wynca (Zhenjiang) Silicon Material Co., Ltd. has officially started the construction on a new fumed silica plant in Zhenjiang, Jiangsu Province, China. Together with the business partners, representatives from local government and media, Evonik and Wynca took part in a ground-breaking ceremony on December 10th in … Read more Evonik and Wynca Break Ground for a New Fumed Silica Plant in Zhenjiang

LG Chem Secures $5 B in Loans from S. Korean Lenders to Expand Battery Business

by

LG Chem will be backed by South Korea’s state lenders with $5 billion in policy loans to finance its expansion in secondary battery factories across the world over the next five years as a part of the government push to promote battery business. LG Chem signed an agreement with Korea Development Bank, Export-Import Bank of … Read more LG Chem Secures $5 B in Loans from S. Korean Lenders to Expand Battery Business

Honeywell UOP to Provide Technology for On-purpose Propylene Plant in China

by

Honeywell announced that it will provide UOP’s C3 Oleflex technology to Shandong Binhua New Material Co to produce 600,000 MT per year of polymer-grade propylene for a proposed plant in China. Honeywell UOP will provide services, equipment, catalysts and adsorbents for the Shandong plant. The project marks the 25th award for C3 Oleflex technology in … Read more Honeywell UOP to Provide Technology for On-purpose Propylene Plant in China

ONGC Shelves Plan to Sell Stake in OPAL Petchem Complex

by

Oil and Natural Gas Corp. (ONGC) has shelved its stake sale plans for ONGC Petro Additions Ltd (OPaL) unable to attract a strategic partner, Livemint reported. OPaL, a joint venture between ONGC (49.4%), GAIL (India) Ltd (49.2%) and Gujarat State Petroleum Corp. Ltd (1.4%), has set up a grass root mega petrochemical complex at Dahej, … Read more ONGC Shelves Plan to Sell Stake in OPAL Petchem Complex

Aramco, ADNOC India Refinery Project Costs Escalate to $70 Billion

by

The cost of oil and petrochemicals refinery project to be built jointly by Saudi Aramco and Abu Dhabi National Oil Co. (ADNOC) in India is expected to reach $70 billion, WAM news agency reported on Wednesday. A joint economic council between the United Arab Emirates and Saudi Arabia reviewed the planned plant on Wednesday at … Read more Aramco, ADNOC India Refinery Project Costs Escalate to $70 Billion

Posco Chemical to Invest $107 M to Expand Anode Material Capacity

by

Posco Chemical Co., a unit of South Korean steel giant Posco, will invest 125.4 billion won ($107.7 million) to ramp up annual production capacity of lithium-ion secondary battery anode materials to 66,000 tons to promptly respond to burgeoning demand from the electric vehicle market. The company said Monday that its board of directors approved its … Read more Posco Chemical to Invest $107 M to Expand Anode Material Capacity

Reliance to Invest US$9.75 B to Build Oil-to-Chemicals Complex in India

by

Reliance Industries has confirmed plans to invest US$9.75 billion – or 700 billion Indian rupees – to build a crude-oil-to-chemicals complex at the company’s Jamnagar, India, site. Commenting, Afsar Hussain, Wood Mackenzie Senior Research Analyst, said: “The project will have a combined capacity to produce 8.5 million tonnes of ethylene and propylene, 3.5 million tonnes … Read more Reliance to Invest US$9.75 B to Build Oil-to-Chemicals Complex in India

BASF Begins $10 Billion Verbund Project in China

by

BASF officially launched its smart Verbund project in Zhanjiang, Guangdong province, China, and commenced building its first plants. The project is estimated to cost US$10 billion as announced in July 2018. The first plants will produce engineering plastics and thermoplastic polyurethane (TPU) to serve the increasing needs of various growth industries in the southern China … Read more BASF Begins $10 Billion Verbund Project in China

Glenwood Private Equity Firm Acquires SKC Kolon PI

by

Glenwood PE, a local private equity fund from S. Korea was selected the preferred bidder on Thursday to acquire a controlling stake in SKC Kolon PI Inc., a joint venture between South Korea’s SKC Co. and Kolon Industries Inc. that makes polyimide (PI) film. SKC and Kolon Industries said they’ve selected Glenwood PE as the … Read more Glenwood Private Equity Firm Acquires SKC Kolon PI