Kyrgyzstan exports 95 percent of cotton

(yarnsandfibers) -- "Kyrgyzstan exports 95 percent of cotton," the head of Light Industry Department under the Ministry of Energy and Industry, Ms. Fatima Sadamkulova, said at the panel discussion on development of textile and garment industry.

According her, the republic gathers annually 101.3 thousand tons of raw cotton and 11.1 thousand tons of wool in grease. ⌠Textile industry is not developed in the country. We cannot process own raw materials because of shortage of premises, specialists and finances. In 2011, only 22.5 thousand tons were processed out of gathered cotton. The main problem is absence of productive capacities, Fatima Sadamkulova explained.

She noted that the Ministry of Agriculture intends to increase area under cotton crops up to 40, 000 hectares. "This year entrepreneurs intend to produce 120 thousand tons of raw cotton and 16.6 thousand tons of wool. Therefore it is needed to establish industrial areas in Osh province to attract investors to pour money into fiber processing and restoration of silk industry," Fatima Sadamkulova said.
MRC

SIBUR and Sinopec sign cooperation agreement

(sibur) -- Dmitry Konov, CEO of Russian petrochemical holding company SIBUR, and Wang Tianpu, President of ChinaPetrochemical Corporation (Sinopec Group), today signed a cooperation agreement during the Russian-Chinese Forum on commercial investment cooperation.

The signing of the agreement was witnessed by Igor Shuvalov, First Deputy Prime Minister of the Russian Federation, and Li Keqiang, the VicePremier of the State Council of the People's Republic of China.
The agreement forms the basis for the creation of a joint venture (JV) for the production of butadiene nitrile rubber in Krasnoyarsk (Russia).

Sinopec plans to acquire 25% plus 1 share in the Krasnoyarsk rubber plant. The companies will consider expanding the plant's current production capacity from 42,000 tonnes to 56,000 tonnes per year.

The cooperation agreement describes the mechanism for the financing of the JV, as well as arrangements relating to share capital, management, raw material supply and marketing. A final decision on the establishment of the JV is expected by the end of 2012.

Two oil traders sentenced in USD82m scheme against LyondellBasell

(bloomberg) -- Two oil traders were sentenced to four and five years in prison for illegally paying more than USD20 million to a LyondellBasell Industries NV (LYB) executive in return for oil-tanker charters to the company's Houston refinery.

U.S. District Judge Sim Lake in Houston imposed a four-year sentence today on Bernard Langley, 54, of the U.K. Clyde Meltzer, 66, of Houston and Livingston, New Jersey, was given a five-year sentence.
They pleaded guilty last year to paying kickbacks into Swiss bank accounts controlled by LyondellBasell's Jonathan Barnes, a shipping manager, from 2007 to 2009. Langley and Meltzer were also sentenced to three years of supervised release.

Barnes agreed to pay above-market shipping rates to tanker companies controlled by the men to transport Venezuelan crude oil to Houston, in exchange for one-third of the profit the traders received, prosecutors said. Barnes, 56, pleaded guilty and was sentenced to seven years in January and ordered to pay restitution of USD82 million to the Rotterdam-based company.

MRC

Amcor produced lightweight PET bottles

(polyestertime) -- Amcor Rigid Plastics, the world's leading producer of rigid plastic packaging, has designed and produced a proprietary series of lightweight polyethylene terephthalate (PET) bottles for McCormick Distilling Co. Inc., a Weston, MO.-based manufacturer and distributor of premium spirits.

The custom PET containers in 50ml, 750ml, 1L, and 1.75L sizes helped McCormick successfully launch its new brand - Montego Bay Coconut Rum - in a distinctive and eye-catching package.

Already a producer of straight rum products, McCormick's entry into the flavored rum segment required not only a great-tasting product but an equally impressive package design to attract consumers in retail stores, bars, restaurants, and other establishments, according to Vic Morrison, McCormick's vice president of marketing. ⌠Amcor delivered a custom bottle that was phenomenal in terms of color and look," said Morrison. " The unique design and color really stands out on the shelf and differentiates us from the competition."

MRC

PP production complex at Tobolsk is 70% complete

(sibur) -- 72% of the construction and installation works for Tobolsk-Polymer have been completed, while the overall progress of the project is fully in line with schedule at 90.2%, according to Mikhail Karisalov, SIBUR's Deputy Chairman of the Management Board.


The detailed engineering plans are complete and all of the oversized equipment for manufacturing propane dehydrogenation and polypropylene are now on site. The equipment and materials that have been delivered will ensure construction and installation work remains on schedule. All construction contracts relating to major works have been signed and agreed with building contractors. The company expects the workforce employed by contractors to reach a maximum number of 4,700 in May.


With the necessary schedules and programmes in place and the contract with the general contractor signed, commissioning works at the plant's facilities have begun. A total of 190 people have been hired in the operating unit at Tobolsk-Polymer, and all positions that are critical to the launch of the commissioning work have already been filled. More than 70% of the staff are qualified experts from the local area.
MRC