(ineoschlor.com) -- INEOS ChlorVinyls has today announced a price increase of Euro 25 per dry metric tonne, for June 2010 caustic soda business. This will be applied as contracts permit.
Due to reduced margins on the electro-chemical unit and the continuing low stocks position an additional increase will be applied, on July 1st, for Quarter Three business.
(Dow) -- Dow Europe GmbH, Dow Polyurethanes and Dow Formulated Systems will raise prices for all Polyols, MDI and for polyurethane systems up to 250 Euro per metric ton in Europe, Middle East and Africa. The increase is effective immediately or as contracts allow. This step is being taken to mitigate unprecedented price increases in key raw materials.
MRCMRC Reference
Share in the Russian market, 2008:
polyethylene - 2.5% (including LLDPE - 33.1%);
polypropylene - 0.8% (including PP-impact - 1.1%);
polystyrene - 2.6%.
Annual sales growth in Russia, recent 5 years:
polyethylene - 55%;
polypropylene - 28%;
polystyrene - 2%.
Imports by processing technologies:
(Borealis) -- Borealis customers can count on a reliable partner for growth following Borealis' completion of an over EUR 400 million investment at its plant in Stenungsund, Sweden. A new 350,000 t/y high pressure LDPE plant along with modernised compounding and material-handling facilities were officially inaugurated on June 2, 2010, increasing total capacity at the site from 580.000 t/y to 700.000 t/y.
The world's leading provider of innovative, value creating plastics solutions for the wire and cable industry has expanded its Stenungsund facilities while maintaining a closed operation process to eliminate potential sources of impurities. The plant was designed and constructed with the highest wire and cable quality standards in mind.
The capacity expansion builds on Borealis' existing technology platform and demonstrates its commitment to high quality, well-known brands such as Supercure and Visico. The capacity will be focused specifically on Borealis' newest products such as Supercure LS4201 and LC8205 and special products for extra high voltage cables LE4201EHV and LE4244EHV. Its Visico products for low and medium voltage cables LE4423, LE4421 and LE4421M will also benefit from the controlled environment in place at Stenungsund.
MRCMRC Reference
Borealis. The share in the Russian market in 2008:
polyethylene - 4.1% (including HDPE - 4.7%, LLDPE - 8.7%);
polypropylene - 3.2% (PP-impact - 7.5%).
Annual sales growth in Russia over the last 5 years:
polyethylene - 11%;
polypropylene - 6%.
Leader in polymers processing technologies:
extrusion coating;
cable extrusion;
injection molding.
ROME (Maire Tecnimont) -- Maire Tecnimont S.p.A. announces that its main operating company Tecnimont S.p.A. has signed a contract with C.S. Construction Solutions Ltd for End User Novy Urengoy Gas Chemical Complex (NUGCC), a Company controlled by Gazprom Group.
The contract, which has a value on a cost plus fee basis of about ┬100 million, foresees the provision of equipment and raw materials, with associated facilities of procurement services and site assistance, for a 400 KTY ⌠Low Density Polyethylene (LDPE) Plant in Novy Urengoy (Western Siberia). The completion of the contract activities is expected by end of 2012. For the same project in 2007 Maire Tecnimont already performed basic engineering services and in 2009 was awarded a detailed engineering contract, which is currently in execution.
⌠Today's contract is a great result for Maire Tecnimont because it confirms once again the excellence of our Group in the polymers business and its long tradition in the market of the former USSR, where we have been present for many decades, stated Fabrizio Di Amato, Chairman and CEO of Maire Tecnimont S.p.A..
(Bloomberg) -- Billionaire Mukesh Ambani's Reliance Industries Ltd. may start work on a multibillion-dollar chemical plant this year, reviving a project to meet India's surging demand for the raw materials for plastics, drugs and textiles.
Reliance is close to deciding the final configuration of the plant, which will be capable of producing as much as 1.6 million metric tons a year of chemicals such as ethylene and propylene, said a person familiar with the project, who declined to be identified because the information isn't public.
The plant will get its feedstock from gases and other byproducts produced at Reliance's Jamnagar facility, the world's largest oil-refining complex, and will take about four years to build, the person said.
Reliance is restoring a project originally slated to start in 2011 as refiners, including Exxon Mobil Corp., Royal Dutch Shell Plc and Saudi Basic Industries Corp., add petrochemical capacity to meet demand from Asia's fast-growing economies. Cracking margins for ethylene, which fell to about $100 a ton in 2008, recovered to more than $400 in the first quarter.
⌠This will come at a good time. We are oversupplied right now but beyond 2011, there's a sharp drop-off in terms of new capacity, said Sriharsha Pappu, a Dubai-based analyst with HSBC Bank Middle East Ltd. ⌠In the next 3 to 4 years, we could very easily be undersupplied.
Manoj Warrier, a Reliance spokesman, didn't respond to emails and phone calls requesting comment.
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