The Abu Dhabi National Oil Company (ADNOC) signed a framework agreement with Reliance Industries to explore development of an Ethylene Dichloride facility in Ruwais. The agreement was signed by Mr. Abdulaziz Alhajri, Executive Director of ADNOC’s Downstream Directorate, and Mr. Nikhil R. Meswani, RIL Executive Director. Under the terms of the agreement, ADNOC and RIL … Read more
Oil and Natural Gas Corp. (ONGC) has shelved its stake sale plans for ONGC Petro Additions Ltd (OPaL) unable to attract a strategic partner, Livemint reported. OPaL, a joint venture between ONGC (49.4%), GAIL (India) Ltd (49.2%) and Gujarat State Petroleum Corp. Ltd (1.4%), has set up a grass root mega petrochemical complex at Dahej, … Read more
The cost of oil and petrochemicals refinery project to be built jointly by Saudi Aramco and Abu Dhabi National Oil Co. (ADNOC) in India is expected to reach $70 billion, WAM news agency reported on Wednesday. A joint economic council between the United Arab Emirates and Saudi Arabia reviewed the planned plant on Wednesday at … Read more
Reliance Industries has confirmed plans to invest US$9.75 billion – or 700 billion Indian rupees – to build a crude-oil-to-chemicals complex at the company’s Jamnagar, India, site. Commenting, Afsar Hussain, Wood Mackenzie Senior Research Analyst, said: “The project will have a combined capacity to produce 8.5 million tonnes of ethylene and propylene, 3.5 million tonnes … Read more
UPL Ltd, an Indian agrochemical company said it has entered into definitive agreements to acquire a majority stake in Yoloo Laoting Bio-technology Co. Ltd, an agrochemical firm based in China’s Heibei province, from Beijing Yoloo Bio-Technology Corp. Ltd. UPL will own 75% stake in Yoloo Laoting for RMB 93.33 million ($13.3 million). The remaining 25% … Read more
Perstorp, a global leader in the specialty chemicals market, has unveiled plans to invest in the construc-tion of a new Pentaerythritol production facility in Gujarat, India. The world scale, green-field Gujarat plant will produce Pentaerythritol, including the renewable grades of Voxtar, providing up to a 60% reduced carbon footprint. Construction of the Gujarat plant started … Read more
MonoSol, a divison of Tokyo-based Kuraray Group announced plans to further expand its operations with the construction of a new manufacturing facility in Poland to meet rapidly increasing demand for its water-soluble and biodegradable films. Additionally, the company confirmed plans to increase manufacturing capacity at its recently completed plant near Indianapolis in Lebanon, Indiana. The … Read more
Abu Dhabi National Oil Company (ADNOC), Adani Group, BASF SE and Borealis AG have signed a Memorandum of Understanding (MoU) to engage in a joint feasibility study to further evaluate a collaboration for the establishment of a chemical complex in Mundra, Gujarat, India. This is the next step of BASF’s and Adani’s investment plans as … Read more
Solvay has started the operation of its new Veradel PESU (polyethersulfone) line at its plant in Panoli, India. Solvay is raising capacity to address significant demand mainly from the Healthcare and Water Treatment industries, for this high-performance thermoplastic material. This capacity increase is a part of Solvay’s plan, announced in 2017, to raise sulfone polymers … Read more
Toray Industries, Inc., announced on Thursday that Toray Industries (India) Private Limited began manufacturing polyamide (PA) and polybutylene terephthalate (PBT) at a new facility in September. PA and PBT resins offer outstanding toughness and resistance to heat and chemicals. Key applications include components for automotive and electrical and electronic. This first Indian plastic compounding unit … Read more
A major fire broke out at the naphtha cracker unit of the Haldia Petrochemicals Limited here on Friday injuring 15 people, reported Business Today with reference to a senior police officer’s statement. The fire broke out when a naphtha pipe line exploded during repair at the naphtha cracker unit. The fire was brought under control … Read more
Materials manufacturer Covestro has signed an agreement with Serafin Group for the sale of Covestro’s European polycarbonate sheets business, which comprises manufacturing units in Belgium and Italy, central management operations and sales support in Europe. The business generates total revenues of around EUR 130 million ($144 million). Polycarbonate sheets are highly break-resistant and are mostly … Read more
Sumitomo Chemical India Limited (SCIL), a subsidiary of one of the leading global chemical companies Sumitomo Chemical Co., Ltd., Japan and a leading player in Indian agrochemical, household insecticides and animal nutrition sectors, announced the completion of the merger of Excel Crop Care Limited (‘ECC’) with itself (SCIL). The aforementioned merger process has been successfully … Read more
Ion Exchange (India) Limited, a leading water and environment management solutions provider, announces the launch of its new Research & Development Centre at Patancheru in Telangana, of Southern India. The centre will focus on the company’s Chemicals, Resins and Membranes business. It will also provide technical and scientific support to the company’s existing technology and … Read more
Saudi Aramco signed a letter of intent for a proposed purchase of a 20% stake in the oil-to-chemicals (O2C) business of India’s Reliance Industries Ltd., including the 1.24 million barrels-a-day Jamnagar refining complex on the country’s west coast. Reliance values its oil-to-chemicals division at $75 billion including debt, implying a $15 billion valuation for the … Read more
Huntsman Corporation announced on Friday that it has entered into a definitive agreement to sell its chemical intermediates businesses, which includes PO/MTBE, and its surfactants businesses to Indorama Ventures in a transaction valued at $2.076 billion. The transaction comprises a cash purchase price of $2.0 billion plus the transfer of up to approximately $76 million … Read more
India has increased the cost estimate of the planned refinery and petrochemical project to be jointly built with Saudi Aramco and Abu Dhabi National Oil Co by more than 36%, after protests by farmers forced the relocation of the plant, as reported by Business Today. The 1.2 million bpd coastal refinery in the western state … Read more
Nouryon has doubled production capacity for dicumyl peroxide (DCP) at its site in Ningbo, China after completing a major expansion project. The plant is the largest of its kind in the world and can now produce up to 38,000 tons per year of DCP, an organic peroxide used in the manufacture of polymers that need … Read more
BASF India Limited has entered into an agreement to divest its stilbene-based Optical Brightening Agents (OBA) business for paper and powder detergent applications to Archroma India Private Limited for about Rs 33.50 crore ($4.9 million). The transaction includes stilbene-based OBA product portfolio and the manufacturing unit at Ankleshwar, India. The stilbene-based OBA business is part … Read more
Deepak Nitrite, a chemical intermediates manufacturer announced on Saturday that it has successfully commissioned a Rs 1,400 crore ($202 million) phenol-acetone plant as reported by Business Standard. The new plant will help import savings of Rs 2,800 crore (about $400 million) for the company, the news report added. The plant set up through its wholly-owned … Read more