Octal to increase PET production at its complex in Salalah

(plastech) -- Octal has announced that phase two in the expansion plan of its state-of-the-art PET complex in Salalah has been successfully completed within budget and on time.

Following the ramp-up period, full production is expected by August, fortifying the company’s ability to serve the North and South American markets’ dedicated capacity commitments. Phase two capacity takes total system output to 920,000 tons per year of PET bottle-grade resin.

OCTAL, based in the port city of Salalah, Oman, is the largest PET resin manufacturer in the Middle East and the largest integrated PET sheet manufacturer in the world. Company’s focus on PET responds to converging global trends of consumer lifestyles that increasingly demand convenience packaging and the industry’s growing need for environmentally friendly products and improved economics throughout the value chain.
MRC

PVC prices in Russia will rise in September

MOSCOW (MRC) – Russian makers are going to get higher PVC prices for September shipments. Negotiations regarding contract September prices have just begun, but some market participants already report that one of the makers has raised the price by Rb2,000/tonnes, report MRC analysts.

On Tuesday negotiations on the level of Russian PVC contract prices for September shipments started in the Russian market. Expectedly, Russian makers plan to achieve an increase in prices for September shipments on the back of tightened PVC supply in the domestic market and price rise in the foreign markets.

Negotiations regarding September price-level have just started, but some market players report that SayanskKhimPlast has managed to get higher prices. The major Russian maker managed to get an increase in the contract price for September shipments on average by Rb2,000/tones from August on tightened PVC supply (there will be a turnaround at the plant since mid-September) and rising demand from local converters. Market participants believe that other Russian makers will come to an agreement regarding their contract prices till the end of the week.

In the foreign markets PVC prices keep growing. The most considerable price rise is expected in Europe. Some European producers have already announced a price rise of PVC for September shipments by EUR140/tonnes from August level (EUR750-810/tonnes, FCA).

However, the final price formation of European PVC is expected to take place only next week after the adjustment of ethylene prices. North-American PVC suppliers have increased prices for shipments in the second half of September by USD70-80/tonne from August level. Meantime, disruptions of delivery dates make two-three weeks at the moment. Chinese makers still keep their export prices in the range of USD880-920/tonne, DAP Dostyk. However, delays in PVC shipments make 20 days and more due to delays in railway wagons provision.
MRC

Toshiba acquires LT Plastics Machinery

(Plastopedia) -- Japan’s Toshiba Machine Co. Ltd. is buying one of India’s largest injection molding machine producers, L&T Plastics Machinery, which makes injection presses for a variety of markets and enjoys strong brand recognition in India.

The investment is part of a significant expansion into developing markets by Toshiba, which is opening an injection press factory in Thailand and has a facility in China, in addition to Japan.

The sale was announced on August 27 by L&T’s parent company, Indian conglomerate Larsen & Toubro. Terms were not disclosed.

Japanese manufacturers, including the country's plastics machinery sector, have been investing heavily outside the country in the last few years, to escape Japan’s higher costs and build business in emerging markets like India.
MRC

Reliance to shut Jamnager diesel unit for maintenance

(Reuters) - Reliance Industries Ltd will shut a diesel hydrotreater at its 660,000 barrels per day (bpd) Jamnagar refinery in Gujarat from Tuesday for about two and a half weeks for routine maintenance, the company said in a statement.

"This opportunity will also be utilised to carry out other maintenance and inspection jobs during this shutdown," the company said.

The refinery's remaining units, including its crude processing units and the other diesel hydrotreater, will operate at normal levels, Reliance said. The company did not specify the capacity of the diesel hydrotreater.

Reliance also operates a 580,000 bpd export-focused refinery which is next to the older refinery.

Reliance Industries Ltd is engaged in petrochemicals, refining, and oil and gas-related industries in India and internationally. The company also engages in textile, retail business, telecommunications, petroleum, polyester, retail, insurance, SEZ. It produces polyester fibre and yarn, paraxylene, polypropylene, purified terephthalic acid and mono ethylene glycol in the world. The company was established in 1966.
MRC

Iran Kordestan petrochemical plant completed by 54%

(zawya) -- The construction of Kordestan Petrochemical Plant, in west of Iran, is completed by 54%, the IRIB reported.
The plant is projected to produce 312,000 tons of polyethylene per year.

Some EUR247 million plus 814 billion rials (about USD66 million) are required to be invested in the project.

According to the plan, some 2,000 direct jobs will be created. The plant will come on stream by March 2014.
Iran's petrochemical production is 54 million tons per year.
MRC