Reliance to expand the biggest refining complex in India

(plastemart) -- Reliance Industries plans to invest Rs 40,000 crores in petrochemicals by 2014 to expand the world's biggest refining complex at Jamnagar, Gujarat. Rs. 16,000 crore has been earmarked to set up a cracker unit as part of a proposed petrochemicals project in Jamnagar. The cracker will produce ethylene, propylene, low-density polyethylene and monoethylene glycol. Rs. 15,000 crore will be invested in a coke gasification plant that will fuel power plants in the complex. It plans to spend Rs. 6,850 crore on a plant to produce paraxylene, used in the production of fibre and film, and a unit to manufacture butyl rubber that has applications in industries, including adhesives, agricultural chemicals and personal care products.Various supporting and ancillary projects would cost Rs. 4,000 crore. They include a fifth crude distillation unit (CDU) that would utilize crude from Cairn India Ltd's Mangala oil field in Rajasthan. A CDU is a front-end process in the refinery to separate crude oil into products such as naphtha, kerosene and light gas oil, among others. Thid is the first time that RIL executives have specified the investment on the petrochemical projects in Jamnagar as part of an expansion drive called J3, which denotes the third phase of expansion of the complex.

MRC

(plastemart) -- Trans Polymers Ltd. - a British and Pakistani joint venture is in the process of finalizing plans to build a 350,000 tpa polyethylene (PE) plant near Port Qasim in Karachi, Pakistan, at cost of US$701 mln. The project promoters are Trans Polymers (UK) Limited, a private UK investment company comprising British, Pakistani, GCC, EU and Malaysian investors, and its Pakistani subsidiary, Trans Polymers (Pakistan) Ltd.

The promoters also have an offtake agreement in place with Ravago of Belgium to import a portion of the production. Currently, Pakistan imports all its PE and PP requirements. The proposed project has received approval from the government of Pakistan, which has granted various foreign investment incentives as well as favorable tariff concessions. Construction, commissioning and warranty testing of the plant is estimated to take 34 months and commercial production is expected by the fourth quarter of 2013.

MRC

(plastemart) -- Kuwait Petroleum Corporation is keen to pick up strategic stake in Indian Oil Corporation, which is preparing for a follow-on public offer later this fiscal year. The government, however, is planning to sell 10% of its stake in the company to the public through a follow-on offer and not a strategic sale.

Kuwait is also keen to strike long-term crude supply agreements with India and participate in IOC's upcoming Rs 29,777 crore refinery and petrochemical complex at Paradip in Orissa. Kuwait is the third largest supplier of crude oil to India, selling over 11 mln tpa.

MRC

(plastemart) -- Borouge has launched a marketing and sales company in Beijing in a bid to increase sales of compounded plastics in automotive and white goods sectors. Five months ago, it opened a compounding facility in Shanghai, and four months ago it revealed plans to build a second plant in Guangzhou.

MRC

MOSCOW (MRC) -- Tight supply of Russian DOP has led to imports increase and supply geography expansion - according to MRC analysts.

In April, the Russian market faced DOP shortage due to suspensions for scheduled maintenances of the producers. Supply from abroad was also tight due to serious difference in price between the domestic and imported DOP. Roshalsk plasticizers plant is going to resume production late шт October. Yet, Russian companies are accumulating imports.

DOP imports amounted to 8,5 kt over the first twenty days of September, and overall August imports amounted to 8,1 kt. At the same time, DOP supply geography expanded in September. The plasticizer from Romania, Ukraine, China, the Czech Republic and Taiwan appeared in the market.

Russian producers have not announced October DOP prices yet. Imported DOP in the Russian market is offered at USD 2.670 - 2.900/mt, FCA.

Russian polymers market prospects will be discussed at Russian Polymers Summit on October 14, 2010 organized by ICIS and MRC. For more information please refer to http://www.icisconference.com/russianpolymers/ Summit official web page.

MRC

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