Investments into polymer films production amounted to USD 19 mln in Russia in 2010

Over the last three years, average annual decrease in imports of polymer films into Russia moved at 13%; at the same time, there is growth in the sectors of stretch and dairy films. In 2009, imports of stretch films increased one third compared to 2008 and amounted to 31 KT. Those were mainly PE films and about 10% of PVC films; the biggest share belong to shipments from Ukraine. Over the last decade, major investments into production of stretch films were made by Regent-Stretch in 2006 and 2007.

In 2009, imports of dairy films increased 30% compared to 2008 and exceeded 1 KT. The largest investment over these years was the expansion of Elexter's production capacities in 2008.

According to MRC analysts, production of stretch and dairy films are the most perspective areas for import sibstitution.

Detailed analysis of trends in the markets of large-capacity polymers and finished goods can be found in MRC Annual Reports.

MRC

(cens.com) -- Formosa Plastics Group (FPG) will set aside NT$18.24 billion, or about US$610 million, to expand production of a petrochemical park in Ningbo, Zhejiang province, China.

An industry insider predicted the Ningbo plant, after completion in 2012, will add approximately NT$8 billion in after-tax earnings to the group's overall annual earnings.

Thanks to rising prices of its major products such as PE (polyethylene), PVC (polyvinyl chloride), AN (acrylonitrile), and MMA (methacrylate), FPG is expected to see after-tax earnings exceed NT$7 per share in 2010.

Due to price hikes of major petrochemical products and strong domestic demand in China, the FPG's Ningbo production complex will see after-tax earnings hit a historic high of 20 billion renminbi, or about NT$92 billion, in 2010.

Backed by earnings from the Ningbo plant plus the earnings registered by the group's major subsidiaries in China, including Formosa Plastics Corp., Nan Ya Plastics Corp. and Formosa Chemical & Fibre Corp., the group is expected to score more than 2.8 billion renminbi in 2010, for a historic high.

In addition to rising earnings from the petrochemical plant in Ningbo and electronics plant in Kunshan, Jiangsu province, Nan Ya Plastics will also see increased earnings in China as its No. 2 polyester plant in Kunshan will begin mass production sometime in March 2011.

MRC

(ogj) -- Saudi International Petrochemical Co. (Sipchem) announced earlier this month that affiliate International Polymers Co. has awarded the engineering design, procurement, and construction work for an ethylene vinyl acetate (EVA) plant to G.S. Engineering & Construction Corp., South Korea.

The 200,000-tonne/year plant will produce EVA and low-density polyethylene at the industrial complex in Jubail Industrial City. The plant is to start operation in second-quarter 2013 and cost an estimated 3 billion Saudi riyals ($800 million).

The Saudi Ministry of Petroleum and Minerals said the announcement has allocated the main ethane feedstock for the project to be cracked and treated to ethylene by one SABIC company and vinyl acetate monomer, as secondary feedstock, to be supplied by International Vinyl Co., a Sipchem affiliate.

International Polymers was founded in 2009 with Sipchem owning 75% and Hanwha Chemicals-Korea owning 25%.

MRC

(indiainfoline) -- The Iran National Petrochemical Company director said that ┬2b in participation bonds for petrochemical projects will soon be offered.

Ramezan Oladi added that $4 billion has been allocated to one of the largest petrochemical projects in Iran, the Damavand Petrochemical Complex in Assaluyeh.

The report added that the purpose of building this complex is to supply sideline services for the phase two petrochemical projects at the Pars Special Economic & Energy Zone.

MRC

(Bloomberg) -- Gazprombank cut its stake in OAO Sibur Holding, Russia's largest petrochemical producer, to 0.02 percent, the Moscow-based lender said today in a regulatory filing, without providing more details.

Last week, Gazprombank said Leonid Mikhelson, a billionaire shareholder and chief of gas producer OAO Novatek, bought 25 percent of Sibur and was in talks to buy the remaining shares. Sibur's value is 225 billion rubles ($7.4 billion), excluding debt, the lender said.

Gazprombank, in which the state gas-export monopoly OAO Gazprom holds less than 50 percent, has said it is selling non- financial assets to improve its business structure.

MRC