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
INEOS and SINOPEC have announced a new Joint Venture agreement that will see INEOS acquire a 50% share in the existing Tianjin Nangang Ethylene Project from SINOPEC. The project is currently building a 1.2 million tonne ethane cracker, expected to come on-stream at the end of 2023, and downstream derivative plants in Tianjin, China. A … Read more
Essar outlined its investment plans of setting up several projects in the state of Odisha. Essar in partnership with an international player, proposed to develop 7.5 MMTPA Crude to Petrochemical Complex (CTC) involving an investment of approx Rs 400 billion ($4.9 billion). “Essar is once again poised for making significant fresh investments in Odisha in … Read more
Chennai Petroleum Corporation (CPCL), Indian Oil Corporation Limited (IOCL) and seed equity partners have signed a Joint Venture Agreement for thé upcoming grass root 9 MMTPA Refinery and Petrochemicals Project at Nagapattinam in Tamilnadu, informed on Friday. IndianOil and CPCL will together hold 50% of Equity Stake (25% each) in the Joint Venture Company (JVC) … Read more
DCW Limited, a leading chemical company in India, plans to double its CPVC (Chlorinated Polyvinyl Chloride) capacity by adding another 10,000 MT capacity. The company also plan to augment the capacity utilisation of its SIOP ( Synthetic Iron Oxide Pigment) plant to 100% with some line balancing Capex to generate an additional 10KT of production … Read more
Aarti Industries Ltd (AIL) and Deepak Fertilisers & Petrochemicals Corporation Ltd (DFPCL) announced that they have signed a binding term sheet for a 20-year period for offtake and supply of Nitric Acid. The parties plan to execute the formal agreement before the close of this calendar year. The supply arrangement comes into effect from 1st … Read more
India Glycols Limited., a Indian chemicals manufacturer announced its results for the second quarter ended Sept 30, 2022. Q2 Results- QoQ The company’s net profit declined 13.8% to Rs 250.1 million for the period ended Sept 30, 2022 as against net profit of Rs 290.2 million for the previous quarter. Net sales fell 12.5% to … Read more
Tata Chemicals has announced that the company will spend Rs 10.5 billion between second half FY23 upto first half of FY24. Speaking at Q2 FY23 Earnings Conference Call, Nandakumar Tirumalai, Chief Financial Officer, Tata Chemicals Limited said, “We spent Rs 3.04 billion in Q2 of the current year in CapEx. So Rs 10.5 billion is … Read more
Coromandel International Limited., a Indian fertilizers manufacturer announced its results for the second quarter ended Sept 30, 2022. Q2 Results- QoQ The company’s net profit grew 48.4% to Rs 7.41 billion for the period ended Sept 30, 2022 as against net profit of Rs 4.99 billion for the previous quarter. Net sales increased 75.4% to … Read more
Reliance Industries Ltd announced its O2C Business segment results for the second quarter ended Sept 30, 2022. Q2 Results- QoQ The segment’s EBIDTA dropped 39.8% to Rs 119.68 billion for the period ended Sept 30, 2022 as against EBIDTA of Rs 198.88 billion for the previous quarter due to weak margins. Net sales decreased 1.26% … Read more
Tata Chemicals Limited., an Indian chemicals manufacturer announced its results for the second quarter ended Sept 30, 2022. Q2 Results- QoQ The company’s net profit grew 6.6% to Rs 6.28 billion for the period ended Sept 30, 2022 as against net profit of Rs 5.89 billion for the previous quarter. Net sales increased 6.4% to … Read more
GAIL (India) Ltd said it has won the bid to acquire the stressed asset of debt-ridden JBF Petrochemicals Ltd through its resolution process under India’s Insolvency and Bankruptcy Code (IBC). “The Resolution Professional in the matter of CIRP has informed that GAIL (India) Limited has been declared a Successful Resolution Applicant and GAIL’s Resolution Plan … Read more
India’s 4 state-owned firms plan to build coal-to-chemical projects as part of the government’s aim of utilizing 100 million tonnes per year of coal for gasification by 2030. Coal India Limited (CIL) will be joining hands with three other major PSUs – Bharat Heavy Electricals Limited (BHEL), Indian Oil Corporation Limited (IOCL) and GAIL (India) … Read more
APChemi’s patented “Pyromax™” pyrolysis technology for recycling plastic waste closes the gap in the plastic supply chain by taking dirty and mixed plastic waste, including municipal solid waste segregated plastics and multilayer packaging, and breaking it down to produce high quality pyrolysis oil which can be chemically recycled into circular plastics. The process has a … Read more
SRF Limited has announced that a project to establish a second BOPP film line and metallizer at Indore, with an estimated cost of Rs 4.24 billion has been approved. On August 25, 2022, the project was launched and capitalised for a total of Rs 4.24 billion. The board of directors of SRF Ltd had given … Read more
Tata Chemicals Limited., a chemical manufacturer based in India announced its results for the first quarter ended June 30, 2022. Q1 Results- QoQ The company’s net profit marginally grew 28.1% to Rs 5.93 billion for the period ended June 30, 2022 as against net profit of Rs 4.63 billion for the previous quarter. Net sales … Read more
Maire Tecnimont S.p.A. has announced that its subsidiary MyRechemical has been awarded by Alia Servizi Ambientali S.p.A. a basic engineering contract for a waste-to-methanol and hydrogen plant to be located in Empoli (Tuscany), Italy. The scope of work includes the basic engineering design of the plant and the provision of necessary documentation to start the … Read more
Deepak Nitrite Limited., a specialty chemical manufacturer based in India announced its results for the first quarter ended June 30, 2022. Q1 Results- QoQ The company’s net profit declined 12.2% to Rs 2.34 billion for the period ended June 30, 2022 as against net profit of Rs 2.67 billion for the previous quarter. Net sales … Read more
South Korean petrochemical producer LG Chem will ship its first bio-based phenol and acetone to a German renewable polymer producer. LG Chem will export 4,000 tons of phenol and 1,200 tons of acetone, totaling 5,200 tons, and this is the largest volume of ISCC PLUS certified product ever exported from South Korea. Phenol is the … Read more
Numaligarh Refinery Ltd (NRL) in Golaghat, Assam, India, has selected Lummus Technology’s Novolen for a new 360 KTA polypropylene (PP) unit. Lummus, a global provider of process technologies and value-driven energy solutions, will provide the technology licence, basic design engineering, training, technical services and catalyst supply. “We are honoured to continue supporting NRL’s business and … Read more