(Plastemart) -- Saudi Kayan Petrochemicals has signed a preliminary agreement with Saudi Acrylic Acid Co and a joint venture between U.S. Dow Chemical and Saudi Aramco to build a 330,000 tons n-Butanol plant in the kingdom. The three partners will each hold an equal stake of 33.3% in the plant and would share the costs of the project estimated at SR 1.8 bln. The plant will be located in Jubail and operated by SAAC, with production due to start in H2-2014.
(prw) -- Austrian moulder Greiner Holding is expanding its position in the renewable energy market with the purchase of majority stakes in three Austrian technology companies.
Kremsmunster-based Greiner said it will buy an 80% stake in both Xolar and Sun Master Energiesysteme, which are based in Eberstalzell. Greiner also will buy a 90% stake in SOLution Beteiligungs of Sattledt.
Greiner is paying a total of ┬9m for the shares.
The three companies will be integrated into Greiner's Technology & Innovation division, joining Greiner Perfoam, Greiner PURtec, Greiner Aerospace and Weba.
Greiner has a role in Johannes Kepler University's SolPol project, which is focused on developing plastic solar collectors.
(ICIS) -- INEOS has been offered $1bn (┬740m) by PetroChina for a 50% share in its European refining operation, it said on Monday. The business includes the refineries at Grangemouth in Scotland and Lavera in France.
The partnership with PetroChina, for which a framework agreement was entered on 10 January 2011, would comprise a trading joint venture (JV) and a refining JV, INEOS added.
Core to INEOS was an agreement signed with PetroChina's ultimate parent company, China National Petroleum Corporation (CNPC) to share refining and petrochemical technology and expertise. The agreement gives INEOS the opportunity to lever its technology and expertise into the China market.
In addition, the JV would aid PetroChina's strategy of building a broader business platform in Europe and of becoming a leading international energy company, INEOS said.
INEOS and PetroChina would now work towards forming the proposed JVs in the second quarter of 2011.
(PlasticsToday) -- Plastics Color Corp. has opened its new clean compounding facility in Sun Valley, CA, modeling its fourth production plant after its segregated "Plant Within a Plant" concept initially unveiled at PCC's Asheboro, NC campus. The supplier of color concentrates, additive masterbatches, pre-colored resin, and toll compounding initially announced plans for the facility in Southern California in May 2010.
The 30,000-ft2 Sun Valley plant will employ 14 at startup and operate two segregated clean lines, targeting the medical, pharmaceutical, and food-packaging industries The plant will also warehouse PCC's commodity products for distribution to locations in the U.S. and Mexico, as well as storing PCC's black and white products for quick delivery.
MRC
(PLASTICS NEWS) -- Indian injection molder and compounder Jyoti Plastics Work Pvt. Ltd. is building a US$10 million facility in western India to serve as a base for bringing in manufacturing partnerships, particularly with American and other foreign firms.
The Mumbai-based company plans to open the first phase of the factory in Khadki, Gujarat state, in the next few months with injection molding capability, and finish the other three phases by the end of 2011.
The company currently has three facilities, two in Daman, near Mumbai and one in Dungri, Gujarat. It plans to shift injection molding from one of the two Daman factories, and is going to use the vacant plant for research and development.
Icis
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