Uzbekneftegaz’s Shurtan Gas Chemical Complex to Attract $1.28 Billion for its Expansion

Uzbekneftegaz JSC, the state-owned holding company of Uzbekistan’s oil and gas industry, has announced the signing of agreements with three of Europe’s leading banks to finance capacity expansion of Shurtan Gas Chemical Complex. The cooperation agreements relate to €1.1 billion of capital to finance the expansion of the Shurtan Gas Chemical Complex’s (Shurtan GCC Upgrade … Read more

Laxmi Organic Industries Completes Acquisition of Acetyls Holding

Laxmi Organic Industries has completed the acquisition of 100% equity share capital of Acetyls Holding in accordance with terms of the Share Purchase Agreement dated 09 December 2020 and Prospectus dated 18 March 2021. With this acquisition, Acetyls Holding and its subsidiary Company namely Yellowstone Chemicals have become subsidiaries of the Company w.e.f. 01 October … Read more

Linde India to Set up New Merchant Air Separation Unit at Dahej

Linde India said that its board has approved the proposal for setting-up of a 250 tonnes per day (TPD) merchant air separation unit at Dahej, Gujarat, to secure growth in the gases business in Western markets and deliver cost savings. The board has approved a capital expenditure of Rs 138.6 crores ($18.7 million) towards the … Read more

PE firm Apollo to Buy Mitsubishi Chemical’s MAFTEC Business for $759 Million

Apollo Global Management, Inc. announced that funds managed by its affiliates have entered into a definitive agreement to acquire the Thermal and Emission Control Materials (MAFTEC) from Mitsubishi Chemical Corporation. MAFTEC is a global leader in thermal and emission control protection materials, primarily for the indus-trial and automotive industry as OEMs adopt their chemical fiber … Read more

India’s BPCL to Build Petrochemical Park in Kochi

Bharat Petroleum Corporation Ltd. (BPCL – Kochi Refinery) signed a memorandum of understanding (MoU) with Kerala industrial corporation as part of the establishment of a petrochemical park on 482 acres at Ambalamedu by 2024. The project aims to develop a cluster of micro, small and medium enterprises (MSMEs) that use the propylene derivative by-products of … Read more

IMCD Acquires Chinese Waterborne Coatings Solutions Firm

IMCD N.V., a leading distributor of speciality chemicals and ingredients, today announced that IMCD China has signed an agreement to acquire Aquatech Speciality International Trading Co., Ltd. and Aquatech Speciality Trading Co., Ltd. in China. Since its establishment in 2004, Aquatech has been active in waterborne solutions in coatings, ink, and textile industries. Aquatech generated … Read more

BASF says Zhanjiang Chemical Complex to Generate €4-5 billion in Sales by 2030

BASF SE said Monday that its site under construction in southern China is expected to deliver annual sales of €4 billion to €5 billion ($4.69 billion to $5.86 billion) by 2030. The German chemicals company said it is targeting a contribution in earnings before interest, taxes, depreciation, and amortization of €1.0 billion to €1.2 billion … Read more

DL Chem Seals $2.5 Billion Acquisition of US Chemical Maker Kraton

DL Chemical Co., South Korea’s leading petrochemical company, has acquired Texas-based specialty chemical manufacturer Kraton Corp. for $2.5 billion, taking a step closer to its goal of becoming one of the world’s top 20 chemicals companies. DL Chemical, formerly known as Daelim Industrial Co., has signed a definitive agreement to buy 100% of the US-listed company … Read more

India’s Anupam Rasayan Signs LOI worth Rs 145 Cr with European MNC

Anupam Rasayan India Ltd, India’s leading custom synthesis & speciality chemical player, has signed Letter of Intent (LOI) worth Rs 145 crores ($19.6 million) with existing long-term European multinational supplier of new life science related active ingredients. The company will enter into a long-term contract for next three years to supply this life science related … Read more

India’s Manali Petrochem to Partner with Econic UK for new Polyol Tech

Manali Petrochemical Ltd (MPL) and Econic Technologies have entered into a Memorandum of Understanding (MoU) for introducing a more environment friendly, CO2 containing polyols, into the $28 billion global polyols market. MPL has signed a MoU with Econic Technologies to scale their catalyst technology which would enable substitution of fossil based raw materials with captured … Read more

Celanese Declares Force Majeure in China for Acetyl Chain Products

Celanese Corporation, a global chemical and specialty materials company, confirmed a declaration of force majeure in China for the following Acetyl Chain products manufactured at its Nanjing, China facility: Acetic Anhydride Vinyl Acetate Monomer (VAM) Vinyl Acetate Emulsions Redispersible Powders The Company has temporarily shut down acetic anhydride and VAM production in Nanjing to comply … Read more

India’s Transpek Industry Appoints Avtar Singh as Joint Managing Director

Transpek Industry Ltd has announced that the Board of Directors of the company had, at its meeting held on September 22, 2021, approved the appointment of Avtar Singh as a Whole-time Director of the Company designated as Joint Managing Director. The appointment is for a period of 5 years with effect from October 1, 2021. … Read more

Lummus Awarded Technology Contract for Diphenyl Carbonate Plant in China

Lummus Technology announced it has been awarded a technology contract by Zhangzhou CHIMEI Chemical Co., a subsidiary of CHIMEI Corp. of Taiwan, for a grassroots diphenyl carbonate (DPC) plant in Fujian Province, China. Zhangzhou CHIMEI will build a new polycarbonate (PC) production plant that leverages the Versalis DPC technology licensed by Lummus. The plant will … Read more

India’s L&T Hydrocarbon bags Orders from GAIL, Air Products Middle East

L&T Hydrocarbon Engineering (LTHE), a wholly owned subsidiary of Larsen & Toubro bagged two orders in the construction services segment – one each from GAIL India and Air Products Middle East Industrial Gases. According L&T’s classification, the value of the said contracts lies between Rs 1,000 crores ($135.9 million) to Rs 2,500 crores ($339.7 million). … Read more

India’s Utkal Alumina Completes its 0.5 MMT Expansion at Rayagada Refinery

Hindalco’s Utkal Alumina refinery expansion was inaugurated on Sunday at Kashipur in Rayagada district, Odisha, India. The plant’s expansion will improve the refinery’s annual capacity by 0.5 MMT/yr to 2 MMT/yr alumina production. Situated at the tribal hinterland of Odisha, the expansion unit is built with an investment of Rs 1500 crores ($203.7 million). According … Read more

Grace Licenses Unipol Technology for GAIL’s PDH/PP Project in India

W. R. Grace & Co., the leading independent supplier of polyolefin catalyst technology and polypropylene (PP) process technology, has licensed its UNIPOL PP process technology to GAIL (India) Ltd. The 500 KTA polypropylene plant, located in Usar, Maharastra, India, will be the first PDH and PP plant in India. It is also the largest single-line … Read more

India’s Indokem Board Approves Amalgamation of Refnol Resins and Chemicals

The Board of directors of Indokem Limited has considered and approved a Revised Scheme of Amalgamation under Section 230 to 232 and other applicable provisions of India’s Companies Act, 2013 and the rules framed thereunder. The Scheme provides for Amalgamation of Refnol Resins and Chemicals Limited with Indokem and their respective Shareholders. The Scheme is … Read more

DCM Shriram Board Okays Buyout of Axiall’s Stake in Shriram Axiall JV

DCM Shriram receives the board of directors’ approval for acquiring 1,732,500 equity shares of Shriram Axiall (SAPL) from Axiall LLC, which is an entire 50% of the paid-up share capital held by Axiall LLC in the joint venture. Shriram Axiall (SAPL) is a 50:50 joint venture between the company and USA-based Axiall LLC. In its … Read more

India’s Apcotex to Expand Capacity by 70,000 MTPA at Valia Site

Apcotex Industries Limited, one of the leading manufacturers of Synthetic Latex and Rubber in India, is planning to expand capacity at its Valia plant in Gujarat by around 70,000 MTPA. The new project will include an increase in production capacity of Synthetic Rubber (SBR) between 30,000 MTPA to 32000 MTPA to fulfill demand of automobile … Read more