Chemplast Sanmar to increase the production capcity of its PVC resin plant at Cuddalore

(Indian Chemical News) -- Chemplast Sanmar has sought the Ministry of Environment and Forest's clearance for increasing the production capacity of its PVC resin plant at Cuddalore from 170.000 TPA to 226.000 TPA. The company earlier appointed Business Consulting Group (BCG) to assess the domestic suspension of PVC market. The survey indicated that the future demand for PVC in India is expected to grow at the rate of 11 percent or more.

MRC

(Braskem) -- Ecom Energia, the largest independent energy trader in Brazil has signed a long-term power purchase agreement with Braskem, the largest thermoplastic resin producer in the Americas. "Our main advantage that helped us close the deal with Braskem was the certification of our energy balance. Agreements with durations longer than six months receive a certification issued by PricewaterhouseCoopers that guarantees that the power sold by Ecom is available in our portfolio," said Paulo Toledo, managing partner at Ecom Energia.

He also added that "it is very important to be recognized by a company like Braskem." The agreement ratifies the ethical conduct and commitment before clients and suppliers. The commitment, flexibility and solid experience of its management also was a factor in winning the contract.

According to Andre Gohn, Braskem's Energy Director, "this agreement increases the competitiveness of our portfolio and is aligned with our risk management and growth strategy."

Ecom has already reached the mark of more than 570 MW average of power sold to free consumers and market agents, which is sufficient to supply to a city with a population of 2.9 million people. Revenue in 2010 surpassed R$ 430 million, for growth of over 100% from 2009.

MRC

(Plastemart) -- Braskem-Idesa, the joint venture between the Brazilian Braskem and Mexican Group Idesa has taken another important step for the development of its Ethylene XXI project in Mexico. The JV has chosen Technip as technology provider for the development of its 1.05 KTa ethylene cracker based on ethane. This is part of the petrochemical complex to be built in Coatzacoalcos/Nanchital region, in the Mexican state of Veracruz, which is planned to be ready for start-up by the end of 2014. The complex will also include one low density polyethylene and two high density polyethylene plants.

Braskem-Idesa has also selected Technip as contractor for the front-end engineering design (FEED) of the cracker and high density polyethylene plants. Technip is the largest contractor with remarkable experience on implementing mega-crackers for ethylene production with EPC approach.

MRC

(Plastemart) -- Hanwha Chemical Corp. is considering building a polysilicon plant in South Korea as it pursues a goal of more than doubling sales. Constructing the plant in South Korea may make it easier to operate and staff and open new customer bases, hence it is unlikely that the plant will be located (as reported) in USA or Canada to gain from lower power costs.

Orders for solar-power equipment are estimated to rise as governments take steps to cut carbon emissions blamed for global warming. Hanwha acquired almost half of Solarfun Power Holdings Co., a Chinese maker of solar components, in 2010.

MRC

MOSCOW (MRC) -- Russian producers expectedly raised the prices for PVC in April by RUB 1.000 - 2.000/t, spot market hasn't completely reacted to considerable growth of prices for resin in USA, according to ICIS-MRC Price report.

Because of scheduled shutdowns of two enterprises in Volgograd and Sajansk, PVC contract deliveries for April have considerably decreased. For many contract clients reduction in deliveries volumes from Russian producers aren't critical. Weak demand for finished goods made of PVC allowed to make efficient material stocks. Also some companies contracted PVC from North America which will allow them to compensate the lack of the Russian resin in April-May.

In spot market the transient process is observed. Export prices for North American resin for April have grown more than by USD 100/mt compared to March level of prices. In the Russian market not all companies have transferred growth of export prices to domestic quotations. Price offer for North American PVC was within RUB 47.000 - 49.000/t, including VAT, СРТ Moscow. Soon prices correction will go on and it will approach contract prices of Russian producers.

Spot market has split into two parts. Converters who realize inevitability of serious growth of resin prices tried to purchase PVC for future. Other companies don't hurry to make additional purchases because of available stocks of resin, despite forecasted growth of prices.

MRC