Inauguration of RLOC 1.3 mln tpa ethylene cracker

(plastemart) -- Ras Laffan Olefins Company Limited (RLOC) has officially inaugurated a state-of-the-art 1.3 mln tpa ethylene cracker facility, built at an investment outlay of US$800 mln. By using the latest Chevron Phillips proprietary loop slurry technology, the plant has capacity to produce 36,000 tpa Sulphur, 500,000 tpa Ethylene, 453,000 tpa high density Polyethylenes (HDPE) and 47,000 tpa 1-Hexene. RLOC is a joint venture between Qatar Chemical Company II Ltd (Q-Chem II) which holds a 53.31% stake, Qatofin Company Ltd holding 45.69% stake and QP with a 1% stake. 700,000 tpa and 600,000 tpa respectively, of ethylene produced will be transported via a 133-kilometre pipeline to Q-Chem II and Qatofin downstream derivatives units in Mesaieed.

Capacity is planned to be increased to 1.6 mln tpa in the second phase, making the facility the largest of its kind in the world.

MRC

(plastemart) -- Sinopec, SABIC JV in China; Sinopec-SABIC (Tianjin) Petrochemical Co., Ltd (SSTPC) is using METEOR process technology from Dow Chemical Co. to produce ethylene oxide (EO) / ethylene glycol (EG) at its recently started Sinopec Tianjin complex - the largest single EO reactor in China. METEOR EO/EG process uses a single-reactor design and a unique EO catalyst, which combines both high activity and high selectivity to offer an efficient route to EO/EG production. Commercialised in 1994, the technology is said to allow manufacturers to produce ethylene oxide and ethylene glycol with fewer steps, less equipment and smaller plot size.

MRC

MRC Reference

Sabic. The share in the Russian market in 2008:
PE - 0.2%;
PP - 0.4%;
PS - 0.2%.

Annual sales growth in Russia over the last 5 years:
PE - 33%;
PP - 62%.

(chemie.de) -- Chemtura Corporation, debtor-in-possession, completed the sale of its PVC Additives business to Galata Chemicals ("Galata") on April 30, 2010 for cash consideration of $16.2 million and the assumption by Galata of certain liabilities, including certain pension obligations and environmental liabilities. Advertisement

"This divestiture was the best way for us to maximize the value of the PVC Additives business and is in the best interests of Chemtura and of the business itself," said Craig A. Rogerson, Chairman, President and CEO of Chemtura. "It is part of our plan to focus on maximizing the total value of our portfolio of businesses as we continue working to strengthen the Company and position it for long-term success."

Galata is a partnership between Aterian Investment Partners, a New York-based private equity firm, and Artek Surfin Chemicals Ltd., a Mumbai, India, family-owned company whose business includes textiles, metal finishing and chemicals.

As previously disclosed, the sale is the result of an auction pursuant to Section 363 of the Bankruptcy Code involving a number of qualified bidders held in February 2010 in New York under the auspices of the U.S. Bankruptcy Court. This is a customary process for companies selling businesses or assets while operating in Chapter 11. The sale includes Chemtura's ownership interest in Chemtura Vinyl Additives GmbH and certain assets used in the manufacture and distribution of PVC additives.

The transaction will provide all full-time employees of the PVC Additives business with the opportunity to continue in their current positions under new ownership.

MRC

(adsalecprj) -- Bayer AG raised its 2010 earnings growth forecast as demand for plastics offset a slowdown in crop chemicals and lower sales of medicines.

Bayer expects more than 15% growth in core earnings per share, compared with an earlier forecast of 10%. Net income increased to 693 million euros (US$916.7 million) from 425 million euros a year earlier.

Sales at the MaterialScience plastics unit climbed 36% to 2.22 billion euros as demand from the automotive and manufacturing industries helped Bayer emerge from the chemicals-industry slump that had followed the global economic downturn, the company said.

On the other hand, the company lowered its sales forecast for the drug unit after revenue from the Yaz family of birth-control pills, Bayer's top-selling prescription medicines, dropped 10%.

MRCMRC Reference

Bayer is an international chemical and pharmaceutical concern. Founded in 1863.

The share in the Russian market in 2008:
PS - 0.7% (ABS - 7.2%).

Annual sales growth in Russia over the last 5 years:
PS - (-10%).

Polymers processing technologies:
injection molding.

(plastemart) -- Indian Oil Corp (IOC) plans to augment capacity at Panipat by 25% to meet growing fuel demand. Capacity will be raised to 300,000 bpd by October at an investment of US$226 mln. A 120,000 bpd crude distillation unit, a hydrocracker unit, and a delayed coker unit will be shut for 45 days for the requisite alterations. IOC plans to shut down the refinery during the lean monsoon period of August.

MRC