Indian Oil Corporation Plans $164 Million Ethanol Plants in Southern India

Indian Oil Corporation (IOC) is planning to set up a foodgrain-based, mega scale ethanol production facility each in Indian states of Telangana and Andhra Pradesh with an estimated total investment of ₹1,200 crore ($164.3 million). Spoilt and surplus foodgrain, sourced from the Food Corporation of India (FCI), will serve as feedstock to make ethanol, for … Read more

India’s Rama Phosphates begins Commercial Production of Sulphuric Acid

Rama Phosphates has commenced commercial production of Sulphuric Acid and its derivatives from the new manufacturing facility (Unit-2) at its existing factory premises at Indore with effect from February 23, 2021. With this capacity addition of 55,000 tons per annum (TPA) from Unit-2, the company’s overall annual production capacity of Sulphuric Acid would be 155,000 … Read more

Reliance Initiates Oil to Chemicals Business Spin-off with $25B Loan

India’s Reliance Industries Ltd. (RIL) has started carving out its new oil-to-chemicals (O2C) operation into an independent unit with a $25 billion loan from the parent company. The wholly owned unit’s assets will be funded by the interest-bearing loan, which will be an “efficient mechanism to upstream cash, including any potential capital receipts,” in the … Read more

INOX Air Products Invests $275 Million to Establish Eight ASUs in India

INOX Air Products (INOX AP) announced major plans to build eight new air separation units (ASUs) across India as part of a ₹2,000 crore ($276m) development that will double its liquid medical oxygen production. Marking India’s largest greenfield investment plan for the industrial gases sector, the ASUs will produce liquid oxygen, liquid nitrogen and liquid … Read more

India’s Phillips Carbon Black Commissions Two Specialty Black Lines at Palej

Phillips Carbon Black Limited (PCBL) has commissioned two specialty black lines at Palej, in Gujarat. The two specialty black lines are for the production of a wide range of specialty black products totalling about 32,000 MTPA to service the growing needs of its customers. PCBL is India’s largest carbon black manufacturer having 4 plants at … Read more

India’s Chemcon Speciality Chemicals Reports 77.5% Net Profit Growth for Q3 YoY FY20-21

Chemcon Speciality Chemicals Limited, an Indian specialty chemicals manufacturer announced its results for the third quarter ended December 31, 2020. Q3 Results- QoQ The company’s net profit increased 5.71% to Rs 16.47 crores ($2.3 million) for the period ended December 31, 2020 as against net profit of Rs 15.58 crores ($2.1 million) for the previous … Read more

IG Petrochemicals’ Board Approves $82 Million to Expand PA Capacity

IG Petrochemicals, an established market leader in Phthalic Anhydride (PA) in India announced a capital outlay of Rs 600 crore ($82.6 million) to expand its Phthalic Anhydride capacity. The Board of I G Petrochemicals at its meeting held on 09 February 2021 has approved the greenfield expansion of Phthalic Anhydride up to 80,000 MTPA & … Read more

Bodal Chemicals Ltd to Acquire Chlor-Alkali plant from Mawana Sugar Ltd

India’s Bodal Chemicals Limited has entered into Business Transfer Agreement (BTA) with Mawana Sugar Limited (MSL) to acquire its chlor-alkali plant known as Siel Chemical Complex (SCC) at Rajpura, Punjab. Bodal stated that the proposed acquisition will help the Company in diversification of its existing chemicals product line by adding new products. SCC is engaged … Read more

Privi Speciality Chemicals Reports 40.2% Net Profit Decline for Q3 YoY FY20-21

Privi Speciality Chemicals Limited (formerly Fairchem Speciality Ltd), an Indian specialty chemicals manufacturer announced its results for the third quarter ended December 31, 2020. Q3 Results- QoQ The company’s net profit increased 10.8% to Rs 18.82 crores ($2.6 million) for the period ended December 31, 2020 as against net profit of Rs 16.98 crores ($2.3 … Read more

UPL Reports 13.7% Net Sales Growth for Q3 YoY FY20-21

UPL Ltd., an Indian fertilizer manufacturer announced its results for the third quarter ended December 31, 2020. Q3 Results- QoQ The company’s net profit increased 75.79% to Rs 944 crores ($129.6 million) for the period ended December 31, 2020 as against net profit of Rs 537 crores ($73.7 million) for the previous quarter. Net sales … Read more

Indian Oil Corp Petrochemicals Segment YoY Sales Grew 33% for Q3 FY20-21

Indian Oil Corporation Ltd. (IOCL), one of India’s largest petrochemicals manufacturer announced its results for the third quarter ended December 31, 2020. Petrochemicals Segment Q3 Results- QoQ The segment’s profit before taxes (PBT) grew 75.74% to Rs 1,720.96 crores ($235.9 million) for the period ended December 31, 2020 as against PBT of Rs 979.26 crores … Read more

Competition Commission of India Approves Grasim, Indorama Deal

Competition Commission of India (CCI) has cleared the proposed acquisition of Indo Gulf Fertilizers by Indorama India Private Ltd (IIPL). Indo Gulf Fertilizers is a part of Grasim Industries Ltd (GIL). Indorama will acquire the business as a going concern on a slump sale basis, as per a notice filed with the watchdog. “Commission approves … Read more

Navin Fluorine Reports 25.1% Net Profit Growth for Q3 YoY FY20-21

Navin Fluorine International Ltd., an Indian organo-fluorine chemicals manufacturer announced its results for the third quarter ended December 31, 2020. Q3 Results- QoQ The company’s net profit fell 12.4% to Rs 56.44 crores for the period ended December 31, 2020 as against net profit of Rs 64.42 crores for the previous quarter. Net sales dropped … Read more

SRF Reports 16% Revenue Growth for Q3 YoY FY20-21

SRF Limited., an Indian chemicals & allied manufacturer announced its results for the third quarter ended December 31, 2020. Q3 Results- QoQ The company’s net profit increased 2.7% to Rs 324.25 crores for the period ended December 31, 2020 as against net profit of Rs 315.68 crores for the previous quarter. Net sales grew 2.17% … Read more

Reliance Industries Spins Off O2C Business, New Entity Reports 10% Growth QoQ

Reliance Industries Ltd has completed spin-off of the firm’s oil-to-chemical business into a new unit that will help it pursue growth opportunities with strategic partnerships, the company has said. The oil-to-chemical (O2C) business unit holds Reliance’s oil refinery and petrochemical assets and retail fuel business but not upstream oil and gas producing fields such as … Read more

Asian Paints Reports 49% Net Profit Growth for Q3 QoQ FY20-21

Asian Paints Limited., an Indian paints and coatings manufacturer announced its results for the third quarter ended December 31, 2020. Q3 Results- QoQ The company’s net profit increased 49.1% to Rs 1238.34 crores for the period ended December 31, 2020 as against net profit of Rs 830.37 crores for the previous quarter. Net sales grew … Read more

DCM Shriram Reports 113.4% Net Profit Growth for Q3 QoQ FY20-21

DCM Shriram Limited., a chemicals manufacturer based in India announced its results for the third quarter ended December 31, 2020. Q3 Results- QoQ The company’s net profit increased 113.4% to Rs 252.55 crores for the period ended December 31, 2020 as against net profit of Rs 118.37 crores for the previous quarter. Net sales grew … Read more

ONGC’s Plan to Merge MRPL & HPCL gets Delayed till 2024

India’s state run oil and gas explorer ONGC’s plan to merge its refining subsidiary Mangalore Refinery and Petrochemicals Ltd ( MRPL ) with Hindustan Petroleum Corp Ltd (HPCL) has got delayed, according to a report by IANS. The process is now expected to be complete by 2024. The merger was aimed at aligning ONGC’s upstream … Read more

India to Renew Antidumping Duty on PA imports from Russia, Removes Japan

India’s Directorate General of Trade Remedies (DTGR) has recommended continuation of antidumping duties on phthalic anhydride imported from Russia, for another five years, as it noted that its removal may hurt the domestic industry. But, in case of Japan, it has suggested that the anti-dumping duties may be withdrawn as it was unlikely to cause … Read more

L&T Hydrocarbon Wins EPCC Contracts worth $1.5 Billion from HRRL, India

India’s L&T Hydrocarbon Engineering on Monday said it has won an order from HPCL Rajasthan Refinery (HRRL) worth over Rs 7,000 crore ($958 million), the biggest EPCC contract in petchem sector in India. HRRL is a joint venture between Hindustan Petroleum Corporation (HPCL) and the government of Rajasthan. The EPCC contract is for setting up … Read more