Thailand's Siam Cement Pcl interested in two petrochemical companies in Indonesia

(Reuters) - Thailand's top industrial conglomerate, Siam Cement Pcl , confirmed on Tuesday it was interested in buying stakes in two petrochemical companies in Indonesia worth a combined estimated USD 1.1 billion.

Indonesian chemical producer Sulfindo Adiusaha is up for sale with an estimated price tag of USD 700 million and may draw interest from Siam Cement and South Korea's Hanwha Chemical Corp when first-round bids are due in late August, sources with knowledge of the deal said recently.

Separately, Singapore state investor Temasek Holdings is trying to sell its 23 percent stake in Indonesian petrochemicals maker Chandra Asri in a deal worth an estimated USD 400 million, two sources with direct knowledge of the deal told Reuters recently. Last week, Thailand's PTT group said it was keen to buy a stake in Chandra Asri.

MRC

(Saudi Gazette) -- Saudi Aramco Total Refining and Petrochemical Co. (Satorp), has selected three banks to arrange a planned Islamic bond, or sukuk, issue that will help it finance a large refinery complex at Jubail. Deutsche Securities Saudi Arabia, Samba Capital and Saudi Fransi Capital were chosen as joint lead managers and joint bookrunners for the sukuk, Satorp said in a statement posted on its website.

The offering, which earlier this month secured regulatory approval, will kick off Sept. 10 and last for 16 days. The total sukuk size will be determined by Satorp at a later stage, it said.
The Islamic bond is the first Shariah-compliant project sukuk instrument in the Arab world's largest economy.

Satorp, a company that is 62.5 percent owned by Aramco and 37.5 percent owned by France's Total S.A., plans to build a 400,000 barrel-a-day export refinery in Jubail. The refinery complex, estimated to cost more than USD10 billion to build, is part of a drive by the world's top oil exporter to boost refining capacity by more than 1.7 million barrels a day from installed capacity of 2.1 million barrels a day now.

MRC

(Plastemart) -- Siemens Energy has received an order from China for the supply of two gas-turbine-driven axial-flow compressors trains for the first propane dehydrogenation (PDH) project in China. The purchaser is Tianjin Bohai Chemical Industry Group Co.; a company specialized in areas of the chemicals sector such as caustic soda, and the organic/inorganic/refined chemicals, rubber and plastic processing, and biochemicals industries. Currently, the demand for propylene in Asia is growing very fast. The implementation of PDH projects will facilitate China's own propylene production and the development of its downstream industries.


MRC

(Sibur) -- The public hearing involved representatives of the Tobolsk society, the city administration and the city council, representatives of the company ⌠Tobolsk-Neftekhim, ⌠NIPIgaspererabotka, and the ⌠Environmental Security Training and Consulting Centre. As a result of the hearing, the majority of participants voted to accept the findings of the presented material as corresponding to the environmental impact assessment concerning the construction and operation of the product pipeline.
The discussion of this project is connected with the production capacity of the residual life of the existing product pipeline. The construction of the new branch of the pipeline will ensure the reliability and safety of transporting natural gas liquids (NGL) from gas-processing plants to the ⌠Tobolsk-Neftekhim facilities.

MRC

(Reuters) - Energy company Oil and Natural Gas Corp plans to commission two large petrochemicals projects it is developing through joint ventures in 2012 and 2013 respectively, its chairman said in a written speech to shareholders on Tuesday.

ONGC plans to commission the petrochem project at Dahej in Gujarat, being developed by ONGC Petro-additions Ltd (OPAL) in 2012 and another by ONGC Mangalore Petrochemicals Ltd (OMCL) in 2013, Chairman A.K. Hazarika said.

MRC