Asahi Songwon Colors on Monday announced its entry into active pharmaceutical ingredient (API) manufacturing with the acquisition of Atlas Life Sciences Private Limited. The company has executed a Share Purchase Agreement (SPA) with Atlas Life Sciences Private Limited (ALSPL) and certain identified promoters of ALSPL for acquisition of 100% stake in ALSPL in three tranches … Read more
India’s state-run Indian Oil Corporation (IOC), engineering and construction major Larsen & Toubro (L&T), and renewable energy player ReNew Power have announced a joint venture (JV) company to develop the nascent green hydrogen sector in India. The tripartite venture is a synergistic alliance that brings together the strong credentials of L&T in designing, executing, and … Read more
Gujarat Alkalies and Chemicals Ltd (GACL) had earlier informed about updates on GACL-NALCO Alkalies & Chemicals Private Limited (GNAL), a Joint Venture Company between GACL and National Aluminium Company Limited (NALCO) formed to set up 800 TPD Caustic Soda Plant along with 130 MW Captive Power Plant at Dahej. GNAL is a Material Subsidiary of … Read more
India plans to sell as much as 1.5% stake in state-run Oil & Natural Gas Corp., via an offer for sale, according to an exchange filing. The floor price for the offer is set at 159 rupees apiece. The government aims to raise 30 billion rupees ($397 million) from the share sale. The government owns … Read more
Indian Oil Corporation Limited (IOCL) has announced plans to build a 60,000 ton per annum (tpa) polybutadiene rubber (PBR) plant at its existing naphtha cracker complex in Panipat. IOCL be investing Rs 14.6 billion ($191 million) in the new facility. The plant will use technology provided by the Goodyear Tire & Rubber Co. The project … Read more
Ascend Performance Materials has reached an agreement to acquire Formulated Polymers Ltd., a leading engineered materials manufacturer in Chennai, India. Expected to close on May 1, this acquisition will establish Ascend’s first manufacturing base in the subcontinent and strengthen Ascend’s global reach in the electrical and e-mobility application space. The deal includes a worldscale manufacturing … Read more
Oil India Limited announced that the Board of Directors at its meeting held on March 16, 2022, has approved Rs 65.55 billion ($861 million) investment by subsidiary company Numaligarh Refinery Limited (NRL) for implementation of petrochemical project at Numaligarh, Assam. The board also approved the formation of a joint venture company between Assam Gas Company … Read more
The Board of directors of Supreme Petrochem Ltd. in its meeting held recently has approved Phase II expansion of its Expandable Polystyrene (EPS) plant at Nagothane, Maharashtra by 30,000 MTA. The Board has also approved setting of second line of Extruded Polystyrene Board (XPS) with capacity of 100,000 M3 and increasing the Masterbatch and Compounds … Read more
JK Cement Ltd, a leading manufacturer of wall putty and grey cement in India, announced that it will make its foray into the paints business. “The board of directors of the company in their board meeting “approved entering into paint business through a wholly owned subsidiary, formation of new wholly owned subsidiary and investment in … Read more
BASF India Limited will expand the production capacity of its Ultramid polyamide grades to meet increasing market demand. The increased capacity at BASF’s production site in Panoli, Gujarat, will be available in Q4 2022. “The additional capacity reaffirms our dedication to being our customers’ supplier of choice for polyamidesand will help us meet the rapidly … Read more
Agro-chemicals major UPL Ltd said it will sell 49.98 per cent equity in its non-operational subsidiary firm Agri Net Solutions Ltd (ANSL) to promotor group entity Nerka Chemicals for Rs 17.5 million. UPL, in a regulatory filing, said it will offload the stake for a consideration of Rs 17.5 million and the deal is expected … Read more
Covestro recently started up two polycarbonate compounding production lines at its Greater Noida plant near New Delhi in India. The new plants are intended to meet the growing demand for compounded plastics, particularly for the automotive and electrical and electronics industries. In addition to its extensive polycarbonate portfolio, the company now has more than double … Read more
Indian refiner Nayara Energy, part-owned by Russian oil giant Rosneft, could likely delay its planned petrochemicals expansion as a result of Western sanctions in response to Russia’s invasion of Ukraine, industry executives with knowledge of the matter said. Rosneft owns a 49% stake in Nayara Energy, which operates a 20 million tonnes a year refinery … Read more
India Glycols Ltd., a chemicals manufacturer based in India announced its results for the third quarter ended December 31, 2021. Q3 Results- QoQ The company’s net profit declined 35.6% to Rs 240.1 million for the period ended December 31, 2021 as against net profit of Rs 372.8 million for the previous quarter. Net sales grew … Read more
India’s Bodal Chemicals is in advance negotiations to buy Chlor-Alkali business of Mawana Sugars as the Delhi-based firm looks to focus on its core sugar business, according to a report by ET. The transaction will value Mawana Sugars’ Alkali business between Rs 2.5-3.5 billion, multiple sources close to the transaction told ET. Mawana Sugars, part … Read more
DCW Ltd., a chlor-alkali chemicals manufacturer based in India announced its results for the third quarter ended December 31, 2021. Q3 Results- QoQ The company’s net profit grew 35.7% to Rs 266.86 million for the period ended December 31, 2021 as against net profit of Rs 196.72 million for the previous quarter. Net sales grew … Read more
Galaxy Surfactants Ltd., a specialty chemicals manufacturer based in India announced its results for the third quarter ended December 31, 2021. Q3 Results- QoQ The company’s net profit grew 8.8% to Rs 456.2 million for the period ended December 31, 2021 as against net profit of Rs 419.4 million for the previous quarter. Net sales … Read more
Tata Chemicals Ltd., a leading chemicals manufacturer based in India announced its results for the third quarter ended December 31, 2021. Q3 Results- QoQ The company’s net profit grew 40.3% to Rs 3.1 billion for the period ended December 31, 2021 as against net profit of Rs 2.21 billion for the previous quarter. Net sales … Read more
Atul Ltd., a leading chemicals manufacturer based in India announced its results for the third quarter ended December 31, 2021. Q3 Results- QoQ The company’s net profit grew 6% to Rs 1.55 billion for the period ended December 31, 2021 as against net profit of Rs 1.46 billion for the previous quarter. Net sales grew … Read more
Aarti Industries Ltd., a leading specialty chemicals manufacturer based in India announced its results for the third quarter ended December 31, 2021. Q3 Results- QoQ The company’s net profit grew 338.6% to Rs 7.72 billion for the period ended December 31, 2021 as against net profit of Rs 1.76 billion for the previous quarter. Net … Read more