India's Nakoda to invest Rs 1,900-cr for expansion PET production

12 April, 2012, 2012

(projectsmonitor) -- India's Nakoda will double the polymerisation capacity at its polyethylene terephthalate (PET) and polyester yarn plants at Surat in Gujaratto, west India, to 280,000 tonnes/year by 2015, its chairman and managing director said on Wednesday.

The Rs 1,935 crore expansion would be funded through internal accruals and the company proposes to raise debt of Rs 1,550 crore through term loans. The company has Rs 135 crore from its GDR proceeds which will also be utilised for its expansion.

Once completed, the expansion will enable the company to supply the entire range of polyester yarns in the domestic and international markets. Nakoda currently has a capacity to produce 50,000 TPA PET (polyethylene terephthalate) chips, 30,000 TPA of POY (partially oriented yarn) and 60,000 TPA of FDY (full draw yarn). It also has texturising facility of 30,000 tonnes.

MRC

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12 April, 2012, 2012

(sabic) -- Saudi Basic Industries Corp. (Sabic), in announcing Friday the start of work on a USD100 million technology center in Shanghai, is an extension of the petrochem giant's commitment in the further development of China industrial technology.

The latest development is considered as "the best possible leveraging of the investment Sabic is making."
Sabic ranks among the world's top petrochemical companies, and is a global market leader in the production of polyethylene, polypropylene, advanced thermoplastics, glycols, methanol and fertilizers.

Sabic earlier this year signed a cooperation agreement with Sinopec of China to explore new business. Sabic currently has plants in Shanghai and Guangzhou, and is building a USD2.7 billion joint venture facility in Tianjin with Sinopec, as well as a compounding plant in Chongqing.

MRC

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12 April, 2012, 2012

(refinerynews) -- A three-way agreement was signed in Seoul for an expansion of para-xylene capacity at the Yeosu, Korea refining complex of GS Caltex (Seoul). The agreement was signed by Showa Shell Sekiyu (Tokyo), which operates Shell's oil products business in Japan; Taiyo Oil (Tokyo); and GS Caltex, a joint venture of GS Holdings (Seoul) and Chevron.

P-xylene capacity at the Yeosu site will be increased by 1 million m.t./year through the cooperation of the three companies, to 2.35 million m.t./year. Completion of the expansion is expected by the end of 2014, and it will make the Yeosu facility the world's largest p-xylene production plant at a single site, the companies say.

P-xylene is a basic feedstock for polyester, which is used to make fibers and polyethylene terephthalate bottles. The cooperation among the three refiners is expected to enhance the competitiveness of the p-xylene business, from feed sourcing and production to marketing. Demand for p-xylene is forecast to rise further in Asia, especially in China and India, the companies say.

MRC

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12 April, 2012, 2012

(plastemart) -- CPC Corp has shut the No 5 unit at a refinery after a fire damaged a pipeline at a butadiene production facility.

No one was injured by the fire, the company said. CPC expects to resume output in a month. The fire has also affected production of ethylene and propylene at the No.5 unit.

MRC

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12 April, 2012, 2012

(plastemart) -- Spot ethylene and propylene markets firmed up further over the past week in Asia. Overshadowing thin trading activity amidst short holidays in the region as well as lower naphtha values, supply constraints drove the bullish trend.

Supply was affected by ongoing production outages at regional crackers. More crackers are due to be brought offline for maintenance in the next couple of months. Spot ethylene gained over week , while the increase amount was even larger with respect to early March. The market was calm as Chinese players were on holiday for most of last week due to Qing Ming Festival that took place from April 1-3.

Overshadowing weak demand from downstream markets, restricted availability led spot ethylene offers to remain on their firm path for another week.
MRC

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India's Nakoda to invest Rs 1,900-cr for expansion PET production

Sabic leverages resources

Showa Shell, Taiyo Oil, and GS Caltex to create world's largest p-xylene plant

CPC Corp shuts No 5 unit at a refinery after fire, ethylene and propylene production

Supply constraints push Asian ethylene and propylene markets up