Uzbekistan is to invest US$1.2 bln on upgrade of a polyethylene gas-chemical complex

(Plastemart) -- Uzbekistan is to invest US$1.2 bln on upgrade of a polyethylene gas-chemical complex at state owned plant in Mubarek to 400,000 tons. The project, to be financed jointly with Singapore's Indorama group, will have US$150 mln from national gas company Uzbekneftegaz and US$600 mln from Indorama, while The Uzbekistan Fund for Reconstruction and Development will contribute US$450 mln.

Upgrade of the plant built in 1971 is expected to be completed by 2015. This project constitutes part of the Uzbek government's economic plan to stimulate investment in the country.

MRC

(prw) -- Cereplast is continuing its push into the European market thanks to a new distribution deal with ColorTec to sell bioplastics in southern Italy and Slovenia. US-based Cereplast says Italian manufacturers, in particular, are looking towards bioplastics after the country's government announced a ban on PE bags earlier this year.

Under the terms of the agreement, Cereplast will supply ColorTec with its Compostable 3000 film for shopping and rubbish bags.

Last month, Cereplast targeted growing bioplastic demand in Europe by opening a new headquarters in Bonen, Germany.

The company also plans to open a manufacturing plant in Europe in 2012 with double the capacity of the US factory.

MRC

(prw) -- With a 25% sales increase in 2010 and a double-digit sales growth forecast for 2011, Rhodia Engineering Plastics is on track to boost its compounding capacity in China. The company expects to complete a 40% expansion at its Shanghai facility by July.

The expansion is needed in order to follow the growth of the market, said Frank Laganier, engineering plastics Asia Pacific director. The recent acquisition in India will add some capacity, but it will soon be absorbed in the regional market, he said. Rhodia had also announced a 10% expansion in South Korea in May.

The Shanghai plant, which opened in 2006, was designed for twice its current capacity, the company said. After the current expansion, one more capacity increase is planned for 2013, to ultimately reach the designed capacity.

Rhodia said it will be adding jobs at the Shanghai site to operate the new line as well as to manage logistics for the extra production.

MRC

(Plastics Today) -- Ineos Nova (Fribourg, Switzerland) said its prices for general purpose polystyrene (GPPS) in Europe went up his month by a minimum of ┬110 per ton. The premium of high impact polystyrene (HIPS) to GPPS increased to ┬100/tonne to reflect increased costs of poly-butadiene rubber (PBR).

Plastics additives supplier Songwon (Ulsan, Korea) announces global price increases for its Songnox antioxidants, Songlight and Songsorb UV stabilizers, Songstab acid scavengers as well as its range of aminic antioxidants. The increases are for between 8 -15% effective on orders received on or after March 1, 2011, or as contracts allow.

MRC

MOSCOW (MRC) -- Along with growing price for raw materials in the world markets Russian producers of polystyrene (PS) jacked up the prices by 3000 - 4000 RUB/t, according to MRC analysts.

On Monday the world prices for oil exceeded $ 100/bbl for the first time from October 2008. The reason for this is the political crisis in Egypt which may affect oil supplies, performed through Suez Canal and Suez-Mediterranean oil pipe line. Flow capacities of the pipe line equal 2 mln bbl/day.

Against growing prices for oil the volumes of crude oil refining in Asia remain stable which allows to sustain the prices on a considerably high level. The growth of prices for raw materials as well as benzene production suspension at one of the South Korean enterprises affected the growth of styrene prices in the world markets by $100-170/t.

In January in the Russian market the price for polystyrene remained on the level of last December due to warehouses stocks. But under the pressure of growing price for PS in the world markets, Russian producers raised the prices for February supplies by 3000-4000 RUB/t.

MRC