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
India may impose anti-dumping duty on the imports of Polyethylene Terephthalate (PET Resin) originating in or exported from China based on an application led by IVL Dhunseri Petrochem Industries Private Limited and Reliance Industries. The Directorate General of Trade Remedies (DGTR) has recommended anti-dumping duty of $15.54-200.66 per MT of the imported product for five … Read more
UPL said the company has completed the pre-payment of US$410 million of 3.25% Senior Notes due October 2021. The pre-payment, which concluded on 28 December 2020, was done using the cash on its balance sheet, UPL said. This prepayment is in line with its commitment to reduce debt. UPL is committed towards deleveraging its balance … Read more
Anupam Rasayan, a specialty chemicals manufacturer based in Gujarat India, has filed its draft red herring prospectus with the capital market regulator of India, SEBI for Rs 760 crore ($103.3 million) initial public offering (IPO). Anupam Rasayan intends to use the proceeds mainly for debt repayment. The company has decided to reserve a portion for … Read more
Maire Tecnimont S.p.A has announced that its subsidiary Tecnimont SpA, through its Indian entity Tecnimont Private Limited, has been awarded an EPCC Lump Sum contract by Indian Oil Corporation Limited (IOCL). The said contract is for the implementation of new Acrylic Acid and Butyl Acrylate Units, for the production of relevant high added value products … Read more
Navin Fluorine announced that its board has approved capital expenditure for setting up of a multi-purpose plant (MPP) with an outlay of Rs 195 crore ($26.6 million). The capex will be undertaken by its wholly owned subsidiary, Navin Fluorine Advanced Science (NFASL) at Dahej, Gujarat and will be funded through a mix of internal accruals … Read more
India’s Chemicals and Fertilisers Minister D V Sadananda Gowda on Tuesday said the demand for chemicals and petrochemicals is expected to rise 9% annually, and the size of the industry is likely to grow to $300 billion by 2025. Addressing a conference organised by industry body Assocham, the minister said the Indian chemical industry, over … Read more
Gulf Oil International announced that it has reached an agreement to acquire a lubricant blending plant from Ocean Tankers (PTE) Ltd, Singapore, which will help it expand market share in marine lubes. The plant, which is in the Tuas region of the Island city-nation will be acquired with wharf access, storage tank farm and terminal … Read more
India’s Vidhi Specialty Food Ingredients announced that the Gujarat Pollution Control Board (GPCB) has granted the environment clearance to the Company for setting-up a plant in Dahej SEZ. The Company intends to manufacture 300 metric tonnes per month of Synthetic Water Soluble Food Colours and 60 metric tonnes of Synthetic Food grade lakes at the … Read more
Indian chemical giant UPL announced that the District Court in Delaware has substantially reduced the earlier jury verdict of $31 million to $13 million by its judgement of 30 November 2020. The court has also vacated a number of jury’s determination on key counts. This litigation relates to an ongoing intellectual property litigation regarding TruPick, … Read more
Fine Organic Industries informed that new manufacturing facility situated at Additional MIDC Patalganga, Maharashtra has started its operations from 25 November 2020. Fine Organic Industries earlier announced expansion of its production capacity by 10,000 tonnes per annum each at its Patalganga, Maharashtra and Leipzig, Germany manufacturing units taking the overall capacity to 121,300 tonnes per … Read more
India’s Meghmani Organics Ltd has commenced commercial production at its two agrochemical plants on 25 November 2020. The company has begun commercial production at Herbicide 2,4-D Acid (2,4-Dichlorophenoxyacetic acid) plant at GIDC, Dahej in Bharuch district of Gujarat. The cost of setting up the Herbicide 2,4-D Acid with an annual capacity of 10,800 MTs is … Read more
India has imposed anti-dumping responsibility on imports of fluoroelastomers from China by 5 years beginning November 27, the Central Board of Oblique Taxes and Customs (CBIC) stated in a notification issued Friday. The Board stated that the choice has been taken after the Directorate Basic of Commerce Cures (DGTR) requested for additional extension of the … Read more
The International Finance Corporation (IFC) has extended its maiden blue loan worth $300 million to Thailand-based Indorama Ventures, a leading plastic resin manufacturer, to fight marine pollution in Asia and Latin America. Indorama will utilise the loan to recycle 50 billion PET (polyethylene terephthalate) bottles globally per annum by 2025, with focus on Thailand, Indonesia, … Read more
Sudarshan Chemical Industries Ltd (SCIL), the largest pigment manufacturer in India (with >35% market share) is aiming to achieve the top 3rd position globally by market share by focusing on its core business, developing R&D, expanding to new markets, and improving manufacturing and operations. Currently, SCIL is the fourth-largest pigment manufacturer by market share, globally. … Read more
Bodal Chemicals Ltd announced diversification into Benzene downstream products and expansion of Sulphuric Acid & Derivatives. The company intends to build a benzene plant with 55,000 MTPA capacity and expand Sulphuric Acid capacity to 340,000 MTPA at Saykha GIDC, Bharuch, Gujarat. The company said that these products will further enhance ‘Specialty Chemicals Segment’ for Bodal … Read more
Clariant Chemicals Limited., an Indian subsidiary of specialty chemicals gaint Clariant AG announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company reported a net profit of Rs 191.8 crores for the period ended September 30, 2020 as against net profit of Rs 2.7 crores for the previous quarter. … Read more
Southern Petrochemicals Limited., a fertilizer manufacturer based in India announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit dropped 7.6% to Rs 12.33 crores for the period ended September 30, 2020 as against net profit of Rs 13.34 crores for the previous quarter. Net sales grew … Read more
Ganesh Benzoplast Limited., an organic chemicals manufacturer based in India announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit dropped 33.1% to Rs 9.55 crores for the period ended September 30, 2020 as against net profit of Rs 14.27 crores for the previous quarter. Net sales … Read more
GAIL Ltd., state-owned petrochemicals manufacturer based in India announced its results for the second quarter ended September 30, 2020. Petrochemicals Segment Q2 Results- QoQ The segment’s net profit grew to Rs 176.31 crores for the period ended September 30, 2020 as against net loss of Rs 154.43 crores for the previous quarter. Net sales increased … Read more