PTT in talks to create new bioplastic business

(plastemart) -- PTT is in discussions with NatureWorks and Mitsubishi Chemical Corp to invest in bioplastic plants next year. The cost and production capacity of both facilities are expected to be finalised towards H2-2010.

Mitsubishi is also considering Thailand as a location for a polybutylenes succinate or PLA plant. NatureWorks is considering its second, full-scale polylactic acid (PLA) plant either in Thailand or another location such as Brazil, Malaysia and Singapore. This plant will require an estimated investment of US$300-400 mln for a production capacity of 150,000 tpa. The new plant is targeted to start up in 2014. PTT is likely to take 50% ownership of each plant.

MRC

(plastemart) -- Betting on the business that made its private sector rival Reliance Industries (RIL) a behemoth, state-owned Indian Oil Corporation (IOC) today unveiled the blueprint for doubling revenues from the petrochemicals business to Rs 15,000 crore during the next fiscal. IOC plans to capture 20% of India's market share in polymers in 2011-12. IOC's turnover from petrochem business was of about Rs 3,000 crore in 2009-10, expected to double in 2010-11. Next year, IOC plans to touch Rs 15,000 crore when its recently commissioned naphtha cracker plant adjacent to Panipat refinery will operate at full capacity, enabling it to grow market share from 5% in the 3.8 mln ton polymer market.

IOC is setting up a petrochemical complex at its upcoming grassroots refinery at Paradip in Orissa to be commissioned by 2011-12. The 15 mln tpa refinery will have facilities for production of front-end petrochemicals, including paraxylene, polypropylene and styrene. A 120,000 tpa styrene butadine rubber (SBR) unit, the first in India, is underway at Panipat, being built through joint venture with TSRC Corp of Taiwan and Marubeni Corp of Japan to further strengthen IOC's presence in speciality petrochemicals.

MRC

(plastemart) -- SABIC Innovative Plastics inaugurated its new Ultem polyetherimide (PEI) resin production facility in Cartagena. This much-anticipated event marks a 35% increase in Ultem resin capacity for European and global customers. The state-of-the-art ┬300 mln facility, which is SABIC Innovative Plastics' second Ultem resin plant, will provide customers with higher supply dependability. The plant also encompasses scalable capacity for producing ultra-high-performance Extem resin grades and specialty intermediates (anhydrides). Proprietary process chemistry and cutting-edge manufacturing technologies will improve operating reliability and flexibility while minimizing the environmental impact of by-products. This major investment demonstrates the company's unyielding commitment to reliable, scalable supplies of its Ultem and Extem resin grades, whose outstanding performance is driving ever-greater demand from global customers.

MRC

(Reuters) -- State-run refiner Hindustan Petroleum Corp Ltd plans to revive the stalled refinery-cum-petrochemicals project in Vizag. The proposed project was put on hold in 2007 when the demand for petrochemicals was seen as too weak to justify the investment.

MRC

(prw) -- The German Foamed Plastics and Polyurethane Industry Association (FSK) has chosen KraussMaffei Technologies and Lasselsberger Engineering as joint winners of its Innovation Award 2010 in its Design category (corporate).

The winning project uses a novel concept to produce structural components for prefabricated homes using polyurethane sandwich panels.

Floor, wall and roofing elements are produced continuously on an industrial scale. Drastically reducing the number of elements to a few large components with standardised connectors has reduced the many steps necessary to erect the house on-site, claims KraussMaffei, keeping the cost of on-site construction as low as possible.

MRC