Asian Paints has incorporated a wholly owned subsidiary named, Asian Paints (Polymers) on 11 January 2023. The company has incorporated the new subsidiary for the purpose of setting up a manufacturing facility for Vinyl Acetate Ethylene Emulsion (VAE) and Vinyl Acetate Monomer (VAM) in India. The authorised share capital of the new subsidiary is Rs … Read more
GHCL Ltd. has received the requisite regulatory consent for raising its production capacity of Soda Ash by 100,000 tonnes per annum, the company informed the stock exchanges on Monday. The specialty chemicals and textiles manufacturer said that it has been granted the requisite regulatory consent amendment for increasing the production capacity of its Soda Ash … Read more
Indian government has announced that the country’s first-ever coal gasification-based Talcher Fertilizer Plant in Odisha will be ready to be dedicated to the nation by October 2024. Speaking at the occasion, Union Minister of Chemicals & Fertilizers, Dr. Mansukh Mandaviya said that “Government is taking significant steps in making country Aatmanirbhar. Fertilizer is sector is … Read more
Asian Paints announced that its Board of Directors have approved setting up of a new water-based paint manufacturing facility at an approximate investment of Rs 20 billion. The company is exploring the possibility of making the investment and setting up the manufacturing facility in Madhya Pradesh, subject to the grant of requisite incentives, other approvals … Read more
On Wednesday, India approved a 197.4-billion-rupee ($2.4 billion) incentive plan to promote the green hydrogen industry in an effort to reduce emissions and become a major exporter in the field. Green hydrogen, also known as renewable hydrogen, has the potential to be used as a fuel. It is produced by electrolysis of water using renewable … Read more
KBR announced that its proprietary Vinyl Acetate Monomer (VAM) technology has been selected by Asian Paints Limited for a grassroots production facility in India. Under the terms of the contract, KBR will provide technology licensing, basic engineering, proprietary equipment, and catalyst for a 100,000 tons per annum VAM facility. KBR’s VAM technology is offered in … Read more
On Tuesday, Safex Chemicals Ltd., a manufacturer of agrochemicals, announced plans to invest Rs 1 billion in AgCare Technologies, its new agri-tech division, over the next three to four years to launch an interactive tech platform and establish a manufacturing facility. Speaking to PTI, the company’s Group Director Piyush Jindal said, “We are investing Rs … Read more
Kanoria Chemicals & Industries Limited has announced that commercial production of the Phenolic Resin Plant at Ankleshwar, Gujarat with 6500 MTPA capacity, will commence from 1st January 2023. It will be able to produce 6500 MTPA of phenolic resin annually at the Ankleshwar, Gujarat plant. In India, the main business of Kanoria Chemicals & Industries … Read more
Nayara Energy, a company backed by Russian oil major Rosneft, announced that it is well on track for its entry into the petrochemicals sector. At its Vadinar refinery in Gujarat, Nayara is constructing Phase 1 of the project, which includes the construction of a 450 ktpa polypropylene plant, a propylene recovery unit, upgrades to the … Read more
India Pesticides Limited has received environment clearance to build its agrochemicals and intermediates plant in Uttar Pradesh (Northern India). An environmental permit has been granted by the Ministry of Environment, Forest and Climate Change (Impact Assessment Division), Government of India to the company’s wholly-owned subsidiary Shalvis Specialties Ltd (SSL). This Hamirpur (UP) plant is purposed … Read more
JK Paints and Coatings (wholly owned subsidiary of JK Cement) has entered into a share purchase agreement with Acro Paints and its shareholders to acquire 60% controlling stake in the company. Acro Paints is a leading manufacturer in Northern India, of Architectural and High-performance paints and coatings. This acquisition is a step towards fast-tracking JK … Read more
State-owned power generation company NTPC has signed a Memorandum of Understanding (MoU) with Tecnimont Private Limited – which is the Indian subsidiary of Italy’s Maire Tecnimont Group. The objective of the MOU, which is non-binding in nature, is to jointly evaluate and explore the possibility to develop a commercial-scale green methanol production facility at NTPC. … Read more
Meghmani Organics Limited’s wholly owned subsidiary MCNL has signed a licensing agreement with one of India’s leading domestic fertiliser manufacturers to produce nano urea fertiliser, the company said on December 23. Nano urea is a liquid fertilizer and is effective in enhancing the nutritional quality, crop’s productivity and is environmentally safe. MCNL will incur a … Read more
With the execution of Share Purchase Agreement for sale of India Glycols Limited’s entire investment in equity shares of joint venture namely Kashipur Infrastructure and Freight Terminal Private Limited to Gateway Distriparks Limited. Upon fulfillment of conditions precedent under the SPA, on 23rd December, 2022, the Company has transferred 42.31% shareholding (i.e. 26,74,418 shares) of … Read more
Iberdrola Australia and hydrogen developer ABEL Energy will build a green hydrogen and green methanol production plant at Bell Bay in northern Tasmania (Australia). The project, called Bell Bay Powerfuels, is backed by the Australian government and will involve an investment of €1.1 billion. Bell Bay Powerfuels will produce 200,000 tonnes of green methanol per … Read more
Avaada Ventures, an integrated energy platform, has agreed to establish a Rs 225 billion Green Ammonia Plant in Uttar Pradesh by 2026. On December 6, 2022, Avaada Ventures Pvt. Ltd. and Uttar Pradesh State Industrial Development Authority signed a Memorandum of Understanding. The facility will have a production capacity of 0.5 million tonnes per year … Read more
UPL Ltd., announces the completion of investment of Rs 24.74 billion ($300 Mn) by KKR for 13.33% stake in Advanta Enterprises. This is a part of the larger corporate realignment exercise announced in October 2022 to create four distinct business platforms – Global Crop Protection (ex-India), India Agtech, Global Seeds and Manufacturing & Specialty Chemicals … Read more
The Board of Directors of Smartchem Technologies Limited (STL) at its meeting held approved a Corporate Restructuring Plan with the objective of unlocking growth potential of each of the businesses. STL is a wholly owned subsidiary of Deepak Fertilisers and Petrochemicals Corporation Limited, one of India’s leading producers of industrial chemicals and fertilisers (DFPCL). Commenting … Read more
Arkema announced on Thursday that the company will double polyester resins capacity in its Navi Mumbai facility in India. The move reinforces its leadership position in the global powder coatings market and its commitment to developing very low-VOC technologies. Arkema invested in the Navi Mumbai facility in early 2019 to expand geographic coverage of its … Read more
Gulshan Polyols Limited bagged ethanol supply order from oil marketing companies (OMCs) and Nayara Energy for ethanol blended petrol (EBP). Gulshan Polyols Limited had participated in a tender floated by OMCs inviting various molasses and grain-based distilleries for supplying Ethanol till 31/10/2023 at their various locations across the country. After the closure of the Second … Read more