PTT to expand its petrochemical and refining businesses

(Plastemart) -- PTT is eyeing the deep-sea port planned for Tavoy on Burma's southern coast as an opportunity for expansion of its petrochemical and refining businesses in the long term, replacing the current facility on the Southern Seaboard.

Since the Thai major's plans for domestic expansion of the businesses has met with legal hurdles and resistance from the local community, PTT plans to seek a new facility for investment expansion. The deep-sea port in Tavoy (known as Dawei) seems like a possible long term option which could take at least 10 years to develop.

Tavoy offers the advantage of its relative proximity to Thailand, is home to few Thai residents, and is suitable for both deep-sea development and an industrial estate.

Establishment of the Asean Economics Community in 2015 will also support plant relocation in the region. However, until the Burmese government has a clear policy of welcoming foreign investment without interference, investment in this region would not be possible.

PTT's five-year investment plan is at a budget of more than Bt1 trillion.

MRC

(Plastemart) -- Abu Dhabi's state company with petrochemical holdings - International Petroleum Investment Co. plans to acquire businesses through its Borealis AS plastics unit. In its drive to expand internationally through mergers and acquisitions, IPIC's acquisitions in 2009 included Canada's Nova Chemicals Corp. and 47% stake in Cia Espanola de Petroleos SA, Spain's second-biggest oil producer.

The United Arab Emirates and other Middle Eastern oil producers are boosting petrochemicals output to take advantage of their access to comparatively cheap crude and natural gas feedstocks. The producers are also developing new industries capable of using crude, gas and refinery byproducts.

IPIC, through Borealis, is a partner with state-run Abu Dhabi National Oil Co., known as Adnoc, in petrochemical producer Borouge. That company has built its second ethane cracker and is now working on a third, which it expects will produce 2 million tons of petrochemicals next year.

MRC

(Plastics News) -- Bioplastic supplier Solegear Bioplastics Inc. recently received the 2010 Best Green Business award from the Canadian Youth Business Foundation. Solegear Bioplastics makes Traverse-brand biocomposites made from natural fibers ≈ wood, hemp, bamboo and rice husk ≈ and recycled or prime polypropylene or other resin. It also makes Polysole-brand material, which is made of 100 percent biodegradable materials.

Vancouver-based Solegear was founded in 2006. The Canadian Youth Business Foundation and the Small Business BC provided initial funding for the company. Solegear has developed a suite of proprietary, energy efficient, non-toxic, biodegradable plastics. From the feedstock to additives to processing and coatings, Solegear maintains a focus on green chemistry and full biodegradability to ensure a healthy and renewable product life cycle.

MRC

(PRW) -- Cardia Bioplastics is working with Nestle to help it reduce the environmental impact of its packaging. According to Cardia managing director, Dr Frank Glatz, the deal ⌠presents an exciting opportunity to develop high performance packaging with lower environmental impact.

⌠Our proprietary multi-layer flexible film and rigid packaging developments are important offerings in meeting demanding packaging performance requirements,he added.

Cardia Compostable resins are biodegradable materials that meet international standards for compostability. Typical compostable resin applications include flexible films to 120 microns, coating and laminates, injection mouldings and blow mouldings.

MRC

(Business Recorder) -- Pakistan's Ambassador on WTO, Shahid Bashir, has opposed the government plan to file a case against EU for review of its decision of imposing indefinite countervailing duty on import of polyethylene terephthalate (PET) from Pakistan, saying that any such move from Islamabad at a time when it was pushing forward a case to EC to seek GSP plus status for more market access to enhance exports to member countries could be extremely counterproductive.

EU has imposed 5.1 percent indefinite countervailing duty on import of polyethylene terephthalate from Pakistan recently. Seeing the EU step of imposing indefinite countervailing duty on its exportable items for which EU countries were considered a main market, the government of Pakistan started to work on a proposal to file a review case with EC and, in the first step, sought the views of Pakistan's Ambassador to WTO in Geneva.

Sources said that after strong opposition to the proposed case for review against the countervailing duty, the Commerce Ministry is considering to shelve the plan to contest the EU on the issue.

Now Pakistan is working on two parallel plans to get more market access from EU. One is to seek cut on import duty on various key items being exported from Pakistan to EU market, and the second is to take its long outstanding demand of having GSP plus status from EC to get across the board concessional tariff for all exports to EU under GSP plus status.

MRC