Braskem Idesa to build the largest petrochemical project in progress in the Americas

(braskem) -- Braskem Idesa announces that on may 17th, the Board of Directors of the International...

Braskem Idesa announces that the Board of Directors of the International Finance Corporation (IFC), an organization that belongs to the World Bank Group, approved a loan for the amount of USD 300 million to finance the construction of the largest petrochemical project in progress in the Americas: Braskem Idesa- Etileno XXI.

These resources, in conjunction with the amount of US$ 300 million already approved by the Inter-American Development Bank (IDB) in the month of April, will be part of a type "A Loan" in the amount of USD 600 million.

To this loan there will be an addition of an amount supported by the IFC and IDB of USD600 -750 million as a type "B Loan" with the participation of commercial banks which is in its final approval process, and the amount of USD 600 million approved by the Italian credit bureau- SACE. The group of financial institutions shall consist of the development bank of Brazil and Mexico with BNDES, Bancomext and Nacional Financiera (these are in final stages of approval), amongst others.

The loan will be granted to BRASKEM IDESA SAPI, the joint venture formed by the Brazilian Braskem S.A. and the Mexican group IDESA in order to build and operate a plant that will have a capacity of 1 million tons of polyethylene, through an ethane cracker and three polymerization plants (two high density polyethylene and on low density).

MRC

MOSCOW (MRC) -- In April, Russian producers reduced production of large volume polymers to 262,300 tonnes. The decline was seen in the production of all polymers, the only exception made polypropylene, as per MRC analysts.

Last month, the total production of large volume polymers (polyethylene, polypropylene, unmixed polyvinyl chloride, polystyrene and PET) in Russia declined by 10% compared to March and reached 262,300 tonnes. The output of all polymers decreased, the exception made only polypropylene.

The production of polyethylene in Russia fell in April to 102,300 tonnes. The decline in production resulted from the shutdown of Kazanorgsintez capacities for LDPE production. Also worth mention the temporary suspension of Stavrolen and the reduced capacities utilization of Angara ZP.

Russian producers managed to increase the output of PP to 53,000 tonnes. In April, Stavrolen’s output made more than 8,000 tonnes, while other Russian producers, by contrast, reduced the production volumes. In general, the total production over four months reached 203,000 tonnes.

In April, three Russian producers of PVC stopped their capacities on the turnaround (Caustic/Volgograd, Khimprom and Sibur-neftekhim). As a consequence, the total production of unmixed PVC in Russia fell to 49,800 tonnes. In January-April, the production of PVC made about 192,000 tonnes.

The total volume of polystyrene production last month amounted to little more than 23,000 tonnes. Angarsk polymer plant showed a serious decline in production.

The total volume of PET in April fell to 33,800 tonnes. The decline in production resulted from several reasons. Sibur-PETF stopped at the scheduled turnaround, other Russian producers on the back of low seasonal demand also reduced their level of capacity utilization.

MRC

(Reuters) - Shaw Group Inc took another step toward sharpening up the U.S. engineering company's focus by selling its energy and chemical (E&C) division to French oilfield services group Technip for USD300 million.

Shaw Chief Executive Jim Bernhard said exiting the business, which only moved back into profit this year, would allow the Baton Rouge, Louisiana-based company to pursue more opportunities in the primary industries it serves.

"Shaw will continue to focus our efforts on growing our leadership positions in our core business lines," Bernhard said in a statement.

Shaw said it would retain E&C staff in its Baton Rouge office as well as a consulting unit, and both would be moved into other divisions. Shaw will also retain its Toronto office, which was now under review, as well as obligations related to a nearly complete ethylene plant in southeast Asia.

Technip said Shaw would also retain all legacy engineering, procurement and construction contracts.

MRC

(hydrocarbonprocessing) -- Georgia Gulf said Monday that it has agreed to collaborate with Segetis to offer a new flexible vinyl compound based on Javelin technology bio-plasticizers from Segetis.

This is an exciting collaboration that combines Segetis' proprietary technology with Georgia Gulf's vinyl compounding expertise to customize formulations that deliver unique performance profiles, said William H. Doherty, vice president of vinyl compounds at Georgia Gulf.

This is the second collaboration to develop bio-based flexible polyvinyl chloride (PVC) compounds announced in 2012 by Georgia Gulf, the US-based company noted.

The Segetis bio-based plasticizers are built on a new platform of cellulosic-based levulinic ketals, which Segetis has branded as Javelin technology.

The plasticizers are compatible across a wide-loading range, are highly efficient with excellent permanence and bring faster processing speeds and elevated temperature performance, the companies say.

Coupled with their ability to be 100% bio-based, all Segetis plasticizers bring low vapor pressure and low extractables, and they are broadly miscible with many resin families.
MRC

(lgchem) -- LG Chem has chosen Burckhardt Compression to deliver one hyper compressor as a secondary compressor and one process gas compressor as a booster/primary compressor for its low-density polyethylene (LDPE) ethylene-vinyl acetate (EVA) plant in Daesan, Korea.

After a thorough evaluation phase, LG Chem selected Burckhardt Compression, thanks to the proven technology and numerous references to LDPE plants with similar or larger capacities. For LG Chem, it is essential to have a single point of contact for both compressors since both compressors are installed in the main production line and are interdependent. Burckhardt Compression bears the overall responsibility for the package, that is, for compressing ethylene gas over the whole compression range.

The compressors are scheduled for delivery in December 2012.

MRC