DCM Shriram Ltd., a chloralkali manufacturer based in India announced its results for the third quarter ended December 31, 2021. Q3 Results- QoQ The company’s net profit grew 121.4% to Rs 3.49 billion for the period ended December 31, 2021 as against net profit of Rs 1.57 billion for the previous quarter. Net sales increased … Read more
Bharat Petroleum Corporation Ltd (BPCL) has set up a superabsorbent polymer (SAP) technology demonstration plant of 200 tonnes per annum at the Kochi Refinery. The plant was inaugurated by BPCL’s executive director in-charge (refineries) Sanjay Khanna, in the presence of other officials. Using the in-house acrylic acid as feedstock, SAP technology is used in various … Read more
Toyo Ink India has opened a new gravure ink factory at its Gujarat site along the western coast of India. A part of the Tokyo-based global specialty chemicals conglomerate Toyo Ink Group, the new expansion will boost the company’s production capacity by more than 5,000 metric tonnes per annum. The new plant will allow Toyo … Read more
Hyundai Engineering announced that it has won the Indonesia LINE project worth US$757 million. The company will build a naphtha cracking center (NCC) for the LINE complex, a super-large petrochemical complex being promoted in the Cilegon area 90 kilometers northwest of Jakarta, the capital of Indonesia. Meanwhile, Hyundai Engineering is making a big change in … Read more
Adani Enterprises Limited (ARL) has incorporated a wholly owned subsidiary, Adani New Industries Limited (ANIL), on 30th December, 2021, with an initial authorized and paid-up share capital of Rs 100,000. The new subsidiary will undertake business of developing and operating projects for the synthesis of low carbon fuels and chemicals, generation of low carbon electricity, … Read more
Röhm, a Germany-based methacrylate chemicals supplier is expanding its production plant for PLEXIGLAS (polymethyl methacrylate) molding compounds in Shanghai. The expanded molding compounds plant will go into operation in the second quarter of 2023. Polymethyl methacrylate (PMMA) molding compounds are sold in the US under the brand name ACRYLITE. Recently, the company has announced the … Read more
INVISTA Textiles (U.K.) Ltd. and China Resources Yantai Nylon Co., Ltd., a subsidiary of China Resources Holdings, signed an agreement for the licensing of INVISTA’s nylon 6,6 polymerization technology. With INVISTA’s leading expertise in nylon 6,6 production technology and process, this partnership continues to exemplify INVISTA’s commitment to promoting the development of the nylon 6,6 … Read more
Grasim Industries has commissioned caustic soda projects at Rehla, Jharkhand and Balabhadrapuram, Andhra Pradesh. The ongoing expansion project at Rehla has been completed and the company has successfully commissioned Phase-II of the expansion project — 80 tons per day (tpd) caustic soda lye at Rehla, taking overall caustic soda lye capacity of Rehla unit to … Read more
Meghmani Organics Limited (MOL) announced that it has completed an acquisition of Kilburn Chemicals Limited (KCL). MOL paid INR 1.32 billion as per the National Company Law Tribunal (NCLT) approved resolution plan dated 16th December 2021. Thus, the Company has diversified its Pigment Division’s product offering with Kilburn Chemicals acquisition, fast-tracking its foray into Titanium … Read more
LOTTE Chemical will cooperate with Samsung Engineering and POSCO for the eco-friendly hydrogen business. LOTTE Chemical, Samsung Engineering, and POSCO announced on the 28th that they have entered an MOU for ‘a partnership for the development of hydrogen business in Korea and abroad.’ The top management gathered at Hotel Signiel in Jamsil, Seoul for the … Read more
Cummins Inc. and China Petrochemical Corporation announced the formation of a 50:50 joint venture — Cummins Enze (Guangdong) Hydrogen Technology Co., Ltd. The joint venture will accelerate the affordability and availability of green hydrogen through increased technological innovation, research and development, and manufacturing capacity. Cummins Enze, located in Foshan, Guangdong Province in China, will initially … Read more
Lotte Chemical Corp., a petrochemical unit of South Korean conglomerate Lotte Group, said Friday it will spend 250 billion won (US$211.4 million) to expand its domestic production line of ethylene oxide adduct (EOA). The expansion of the production line in Daesan, a county in the central South Chungcheong Province, will help boost its EOA production … Read more
Sika is opening a new technology center and manufacturing plant for high-quality adhesives and sealants in Pune, a city in the federal state of Maharashtra in India. Developments at the new R&D laboratories and the production in the new plant are aimed at meeting the rapidly growing demand in the Indian market. On its three … Read more
Smartchem Technologies Ltd. (STL), a 100% subsidiary of Deepak Fertilisers and Petrochemicals Corporation Ltd. (DFPCL), said it would invest ₹ 22 billion to set up a technical ammonium nitrate (TAN) complex at Gopalpur Industrial Park in Odisha. The ground-breaking and foundation-laying ceremony was held on Thursday. The project is located at Tata Steel Industrial Park, … Read more
GHCL announced that it entered into a business transfer agreement for divestment of its Home Textiles business to lndo Count Industries. The company said it expects to realise a consolidated sum of Rs 5.96 billion from the divestment of its business. As per the deal, the company will transfer its Home Textiles business for a … Read more
Versalis, Eni’s chemical company, has agreed to license the continuous mass technology for a 70,000 tone per year ABS unit to Supreme Petrochem Ltd. a leading Indian polystyrene and expandable polystyrene producer. The unit will be built in the Amdoshi –Wangani, District Raigad, in Maharashtra state, India. This state-of-the-art technology will produce styrenic polymers with … Read more
Japan’s Mitsubishi Chemical Holdings Corp (MCHC) announced plans to exit petrochemicals and carbon products businesses on its road to carbon neutrality by 2050. Japan’s largest chemicals maker said it will “carve-out” its petrochemicals and carbon products businesses by fiscal 2023. “In the medium term it is our goal to completely exit these businesses,” CEO Jean-Marc … Read more
Asian Paints Ltd on Monday said it will invest Rs 9.6 billion ($127 million) to expand the manufacturing capacity of its facility situated at Ankleshwar in Gujarat. The company has signed a memorandum of understanding with the Government of Gujarat commencing the proposed expansion of manufacturing capacity of paint from 130,000 KL to 250,000 KL … Read more
LG Chem Ltd. and GS Caltex will team up to jointly develop mass production technologies of eco-friendly materials for a circulating economy and carbon neutrality. LG Chem signed Joint Development Agreement (JDA) related to the development of mass production technology for 3HP (hydroxypropionic acid), which is a biodegradable plastic material, and production of prototypes with … Read more
India’s Reliance Industries (RIL) and Saudi Aramco have opted to shelve the $15 billion deal that would see the Saudi oil gaint take a 20% stake in RIL’s oil to chemicals (O2C) business. The pair signed a “non-binding Letter of Intent” in August 2019 for the sale, but RIL released a statement over the weekend … Read more