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
India’s gas importer Petronet LNG is planning to set up an LNG import facility at Gopalpur port in the state Odisha, India, as it looks to foray into the petrochemical business. In the latest annual report, the company said that the new floating import terminal will be used to meet the growing gas demand in … Read more
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
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 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
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
Shree Ganesh Remedies Ltd announced that its Board of Directors have decided to enter into the Share Purchase Agreement to acquire the 74% stake of Dhari Chemicals Limited (DCL). DCL was incorporated to carry on the business of manufacturing of speciality chemicals, chemical compounds (organic and in-organics) in all forms (solid, liquid and gaseous) and … Read more
Neogen Chemicals Limited has announced that the Phase I commercial production for manufacturing of organic chemicals has commenced at full scale successfully at its Greenfield facility in Dahej Special Economic Zone (SEZ). The Phase I of Greenfield facility at the SEZ in Dahej is set to double Neogen’s organic chemical manufacturing capacity. The facility will … Read more
Chemplast Sanmar announced that it has redeemed, on 31st August 2021, the entire outstanding non-convertible debentures (NCDs) that were issued in December 2019 by the company. The redemption of these NCDs amounting to Rs 1238.25 crores ($169.5 million), which was part of the objects of the primary issue, was made using the net proceeds of … Read more
Anupam Rasayan India Ltd has received and signed Letter of Intent (LOI) amounting Rs 135 crore ($18.5 million) with a Japanese Multinational Chemical company for supplying a life science related speciality chemical product. The specialty chemicals firm will enter into a long-term contract with the Japanese multinational firm for next four years to supply this … Read more
Phillips Carbon Black Ltd announced that its Board of Directors at a meeting held on Friday, 27th August, 2021, have considered and approved the raising of funds for an aggregate amount not exceeding Rs 500 crores ($68.5 million). The company plans to raise funds through issue of securities by way of private placement or preferential … Read more
Nayara Energy, a downstream energy company of international scale announced that it has achieved financial closure for phase one of its expansion plans into petrochemicals. The company signed a financial agreement with a consortium of banks led by State Bank of India for a project term loan of Rs 4,016 crore ($541.7 million). The company … Read more
Bodal Chemicals Ltd has decided to sell its Unit – VI, situated at Plot No. 606,607, G.I.D.C., Panoli, Nr. Ankleshwar, Dist. Bharuch, Gujarat. The company said that Unit-VI is inoperative and is not a significant unit in terms of revenue or net worth of the company. Also, it stated that the company has not calculated … Read more
Meghmani Finechem Ltd., a chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2021. Q1 Results- QoQ The company’s net profit grew 13% to Rs 36.95 crores ($5 million) for the period ended June 30, 2021 as against net profit of Rs 32.76 crores ($4.4 million) for the previous … Read more
Meghmani Organics Ltd., a specialty chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2021. Q1 Results- QoQ The company’s net profit grew 90.3% to Rs 68.56 crores ($9.2 million) for the period ended June 30, 2021 as against net profit of Rs 36.02 crores ($4.8 million) for the … Read more
Bodal Chemicals Ltd., a dyes & chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2021. Q1 Results- QoQ The company’s net profit grew 27% to Rs 29.85 crores ($4 million) for the period ended June 30, 2021 as against net profit of Rs 23.57 crores ($3.2 million) for … Read more
Ishan Dyes and Chemicals Ltd., a dye and dyestuff manufacturer based in India announced its results for the first quarter ended June 30, 2021. Q1 Results- QoQ The company’s net profit declined 11.2% to Rs 3.09 crores ($0.42 million) for the period ended June 30, 2021 as against net profit of Rs 3.48 crores ($0.47 … Read more
Himadri Speciality Chemical Ltd., a specialty chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2021. Q1 Results- QoQ The company’s net profit declined 36.5% to Rs 14.51 crores ($2 million) for the period ended June 30, 2021 as against net profit of Rs 22.84 crores ($3.1 million) for … Read more
IOL Chemicals and Pharmaceuticals Ltd., a chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2021. Q1 Results- QoQ The company’s net profit dropped 11% to Rs 67 crores ($9 million) for the period ended June 30, 2021 as against net profit of Rs 75.25 crores ($10.1 million) for … Read more
Ester Industries Ltd has informed that its Board of Directors has approved capital expenditure of Rs 80 crores ($10.8 million) for capacity expansion of certain grades of Speciality Polymer business. The company is planning a capacity addition of 6,000 metric ton per annum thereby taking the overall capacity to 12,000 metric ton per annum. Presently, … Read more