(chemmonitor) -- The Asia market for propylene witnesses an uptrend of spot prices almost during the entire last week. The price upswing is explained to the lower availability of the material.
The supply shortfall resulted from a range of unplanned closures of cracker plants situated in the region. Capacity cuts implemented by Japanese and South Korean manufacturers also affected the market balance.
European market for polyvinyl chloride (PVC) has initiated to show certain signs of improvement following a protracted stagnation period.
Last year market size remained at the level observed in 2010 due to the poor demand from the construction sector during last few years. Some participants were even confident in its reduction.
MRC
(hydrocarbonprocessing) -- The joint venture between Sabic and Sinopec says that the planned new polycarbonate (PC) plant at its petrochemical complex in Tianjin city will cost USD1.7 billion. Sabic, which revealed the plan first in May last year, said the plant will be operational by 2015 and construction will start immediately.
Saudi Basic Industries Corp., or Sabic, the Middle East's largest listed company, said Tuesday its joint venture with China Petrochemical and Chemical Corp. (SNP), or Sinopec, to build a new polycarbonate plant at its petrochemical complex in Tianjin city will cost USD1.7 billion.
The new polycarbonate (PC) production complex with an annual production capacity of 260,000 tpy will be located at the Sinopec Sabic Tianjin Petrochemical Co., or SSTPC, complex in northern China's Tianjin city, Sabic said in an emailed statement.
Sabic, which revealed the plan first in May last year, said the plant will be operational by 2015 and construction will start immediately. Polycarbonate is a key plastic used for producing components for automotive parts and a variety of consumer products.
When the plant is fully operational, Sabic will become one of the world's largest producers of polycarbonate, significantly boosting Sabic's market share, the firm has said. The joint venture, which covers marketing, allows Sabic to supply polycarbonate as feedstock to the company's other plants in China and the Pacific region.
(hydrocarbonprocessing) -- Foster Wheeler has been awarded an engineering, procurement and construction management (EPCm) services contract by Total for the revamp of a hydrodesulfurization unit at Total's refinery in Antwerp, Belgium. The value will be included in the company's first-quarter 2012 bookings.
Foster Wheeler has been awarded an engineering, procurement and construction management (EPCm) services contract by Total for the revamp of a hydrodesulfurization unit at Total's refinery in Antwerp, Belgium.
Foster Wheeler has received a full notice to proceed on this contract, for which the contract value was not disclosed, according to the company.
The value of engineering and procurement services will be included in the company's first-quarter 2012 bookings.
Construction management services are expected to be included in the company's third-quarter 2012 bookings upon agreement of the full scope of the services to be provided by Foster Wheeler.
The revamp of the hydrodesulfurization unit should enable the refinery to produce jet fuel with a sulfur content below 30 parts per million (ppm), and diesel with a sulfur content below 10 ppm, in accordance with European Union requirements.
Foster Wheeler has already completed the front-end engineering design for this revamp. The revamp is expected to be mechanically complete by the end of July 2013.
MRC