Indian Oil Corporation planning an investment in a greenfield refinery-cum-petrochemical complex

(IIFL) -- India's largest crude oil refining firm, Indian Oil Corporation (IOC) is planning an investment of Rs. 40.000 crore to set up a world-class greenfield refinery-cum-petrochemical complex on the western coast with a capacity to process 18 to 20 million tonnes of crude oil per annum. "We plan to set up a coastal refinery to capture the export market in future as also to strengthen our foothold in the domestic market," chairman and managing director of IOC, Rs. Butola said.

MRC

(ABB) -- ABB solutions will help boost the efficiency and stability of the power network at Saudi Arabia's giant Sadaf Jubail petrochemical complex, and also integrate electrical control systems in its six petrochemical plants.

A two-part power factor and power management solution will significantly increase the power factor of the site's power network, and integrate the electrical and process information management systems at the site's six manufacturing facilities into a single, unified system.

Owned by Saudi Arabia Petrochemical Company (Sadaf) and located at Al Jubail on the Gulf coast, the complex is one of the largest petrochemical sites in the world, producing more than 4.7 million tons of petrochemicals a year.


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(Reuters) - Saudi Basic Industries Corp 2010.SE, the world's largest chemicals producer, said it will launch a joint venture firm with Japana's Asahi Kasei Chemicals and Mitsubishi Corp. The new company, Saudi Japanese Acrylonitrile Co, will build a plant to produce acrylonitrile and sodium cyanide in Jubail. The facility will have capacity of 200 KTa of the former and 40 KTa of the latter, SABIC said in a statement on Wednesday.

MRC

(Fibre2fashion) -- Toray Industries Inc and Toray Advanced Materials Korea Inc announced that the companies have decided to enter the high-performance polypropylene spunbond business in Indonesia. The companies plan to establish P.T. Toray Polytech Jakarta (TPJ) in the group's site in Tangerang, Indonesia, in September this year and build a production facility with an annual capacity of approximately 20 KT. The new plant is expected to start full-scale operations in June 2013.

Demand for disposable baby diapers is expected to grow at a rapid pace in the ASEAN countries on the back of high economic growth and changes to lifestyle brought about by rising national incomes. Particularly in Indonesia, the market for disposable baby diapers is estimated to grow at a pace of 14% a year, increasing approximately from 1.9 billion diapers in 2010 to 3.7 billion diapers in 2015.

MRC

(ICIS) -- The US holds domestic resources of natural gas of about 2.170.000bn cubic feet (bcf), a record level that is attributed largely to expanding shale gas reserves, the Potential Gas Committee (PGC) said on Wednesday.

The Potential Gas Committee, based at the Colorado School of Mines, said that its 2010 biennial report on the nation's gas resources showed a gain of more than 4% in recoverable gas since the committee's 2008 evaluation.

The committee report said that its new total for available gas supply is the highest in the PGC's 46-year history.

Shale gas resources account for 687.000 bcf of the total, or nearly one-third of US natural gas supplies, the report indicated.

MRC