(4-traders) -- Malaysian oil and gas services provider Bumi Armada Bhd. (5210.KU) said Monday that its unit Bumi Armada Caspian has won a USD200 million engineering, procurement and commissioning contract from Russia's Lukoil for Filanovsky field development in the Caspian Sea.
The project is expected to run for 32 months and includes engineering of line pipes and installation of nine infield lines, Bumi Armada said in a statement.
The company said its order backlog has reached MYR1.8 billion in value.
MRC
(hydrocarbonprocessing) -- Mitsubishi Gas Chemical Co. says it is expanding polyacetal (POM) production at its joint-venture facility in South Korea, increasing its production by 35,000 tpy. The construction of the new facility will start in the first quarter of 2012 and will be completed in the fourth quarter of 2013.
Mitsubishi Gas Chemical Co. (MGC) says it is expanding polyacetal (POM) production at its joint-venture facility in South Korea, increasing its production by 35,000 tpy.
The plant is a joint venture with US-based specialty chemicals producer Celanese, who owns the other 50%. In 1988, Mitsubishi began production of POM at its plant in Ulsan, and annual production has now reached over 100,000 tons.
The additional 35,000 tpy of capacity made possible with MGC technology will be combined with the current capacity to bring total POM production capacity to 140,000 tpy, the company said.
The construction of the new facility will start in the first quarter of 2012 and will be completed in the fourth quarter of 2013. Commercial operation is scheduled to begin in the first quarter of 2014.
(downstreamtoday) -- BASF India Limited will invest EUR150 million to set up a new chemical production site at the Dahej Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR), located on the west coast of India in Gujarat.
The new site will be an integrated hub for polyurethane manufacturing and will also house production facilities for care chemicals and polymer dispersions for coatings and paper. With this new production site, BASF aims to ensure local supply for growing markets and industries such as appliances, footwear, automotive, construction, adhesives, architectural coatings, paper and personal care. The start of production is planned for 2014.
"With its robust local industries, India is set to become a pillar of growth in Asia Pacific. The country's changing demographic profile and the resulting need for improved quality of life are driving increasing market demand. With the new manufacturing facility, we will be able to serve our customers better by developing solutions that meet their individual needs as well as strengthen their competitive advantage," said Dr. Martin Brudermueller, Vice Chairman of the Board of Directors of BASF SE, responsible for Asia Pacific.
MRC