The Indian petrochemical industry to grow by 11% per annum by 2017

(IANS) -- With India's petrochemical industry poised to grow by 11 percent annually by 2017, the central government was in the process of reviewing the policy that guides the sector, an official said Wednesday. ⌠The Indian petrochemical industry is projected to grow by 11 percent per annum by 2017. The sector, currently accounting for 13 percent of the national exports and 8 percent of its imports, is currently in an expansion mode, said Chemicals and Petrochemicals Secretary K. Jose Cyriac.

The government is in the process of reviewing the policy for promotion of Petroleum, Chemicals and Petrochemical Investment Regions (PCPIR) to bring it in sync with the ground realities, Cyriac said.

The rollback of the tariff and non-tariff barriers incorporated as a safeguard against the after-effects of the 2008 global meltdown has also started, said Cyriac speaking at an event organised by the Indian Chamber of Commerce here.

West Bengal Industry Minister Partha Chatterjee said the government was committed to formulating more investor-friendly policies for fostering the growth of the industry in the state.

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(Plastemart) -- Green EnviroTech Holdings Corp. has signed a Letter of Intent (LOI) with 5 Stone Green Capital, LLC (5 Stone), a fund manager based in New York. Under the LOI, both parties agree to collaborate to establish joint venture projects in recycling waste into plastic and oil within the United States and internationally, the initial focus being in the United States. The initial project identified for collaboration under the LOI is the development of a plant in Sheboygan, Wisconsin, that is anticipated to require USD 5 million in the form of convertible debt financing, or alternative financing that will acquire the building or equipment required for the plant. Under the LOI, 5 Stone has a right of first offer to provide financing on subsequent GETH projects where shredder residue will be consumed, plus the right to participate in any future financing of projects for shredder residue recycling for up to 20% of the total financing.

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(Plastemart) -- Indian Oil Corporation Ltd is undertaking feasibility studies for production of polypropylene and phenol in the state of West Bengal. Post feasibility studies, an investment outlay of Rs 3500 crore has been earmarked for the 60000 tpa PP project, likely to be sited at Paradip where a cracker is under construction and will be commissioned in 2012-13. A feasibility study is to be undertaken for a 250 KTa phenol unit in West Bengal for which he site has not been identified.

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(Plasteurope) -- Pipe and systems manufacturer Wavin Ltd, the UK subsidiary of Wavin (Zwolle / the Netherlands), is now producing PVC drain and soil pipe incorporating a core of recycled polymer. It has termed the three-layer coextrusion process ⌠Recycore Technology and says it contains at least 50% recycled material. The inner and outer layers of the pipe are both produced in virgin PVC; the internal layer to ensure a smooth surface and the outer layer as it is easier to colour. The resulting composite pipe looks and performs identically to one produced entirely from virgin material.

The development of Recycore has involved an investment of GBP 3m (EUR 3.4m) and was a joint operation between the parent company and its UK offshoot. The process will initially be used at the Chippenham site to produce two sizes of pipe, 110mm diameter and 160mm. Their recycled content is slightly above 50% and Wavin UK says it hopes to increase the level as long as the pipe's properties can be maintained. The recycled polymer is being bought in, primarily from window and door fabricators.

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(Ceepackaging) -- As if a legal case between Coca-Cola and Pepsi was not enough, the two rivals who have been fighting it out for as long as anyone can remember are not just competing on the taste in the bottles but are now competing about what is in their packaging.

In 2009, the Coca-Cola Co. said it would sell its Dasani water products in bottles containing up to 30 percent sugarcane-based polyethylene terephthalate plastic. It touted the ⌠PlantBottle as the latest in eco-friendly food packaging. Then PepsiCo said it had developed PET containers that were 100 percent petroleum-free.

According to the San Francisco Chronicle on 27 September, the beverage industry is not alone in the race to produce the greenest consumer product packaging. The trend has spread across grocery shelves to ketchup bottles, shampoo containers, chip bags and even cell phone accessories.
The most common forms of plastic packaging are crafted from natural gas and crude oil, according to the San Francisco Chronicle. Plastics account for about 4 percent of the world's petroleum use, according to the PET Resin Association. The petrochemical industry uses a chemical process to turn petroleum gases and liquids into solid plastics that offer a spectrum of thickness and durability, from plastic bags to milk jugs.

So far, the nascent bioplastics industry has hardly encroached on that petroleum dependency. Less than 1 percent of plastics used in the USA come from biological sources like sugarcane and corn, said Melissa Hockstad, vice president of science technology and regulatory affairs for the Society of the Plastics Industry and quoted by the San Francisco Chronicle.


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