Salavatnefteorgsyntez held annual general stockholders' meeting

SALAVAT (Salavatnefteorgsyntez) -- Salavatnefteorgsyntez annual general stockholders' meeting took place on June 30, 2010. Shareholders approved the annual report, the annual financial report, including profit and loss staments. ⌠Audit - Novye Tekhnologiy Ltd. was approved as Salavatnefteorgsyntez's auditor.


Abu Dhabi Polymer Company inks $930 mln. contract with Hyundai Engineering

(plastemart) -- Hyundai Engineering and Construction Co has been awarded a US$930 mln order to build petrochemical facilities from the UAE's Abu Dhabi Polymer Company. Hyundai said the order was part of a US$2.6 bln project to build the world's largest petrochemical plant.


Sinopec resumes ethylene unit construction in Wuhan

(plastemart) -- China Petroleum & Chemical Corp. (Sinopec) has embarked upon a program to expand an oil refinery in Wuhan city and resumes construction of an ethylene unit at the plant. Construction work on the 800,000 tpa ethylene plant was halted in 2008 because of the financial crisis. The ethylene unit is scheduled for completion in 2013.


European PVC-E replaces local material in Russia in Q2 2010

MOSCOW (MRC) - Russian companies continue to increase PVC-E supplies from Europe. European emulsion imports have been growing since April, replacing Russian PVC with this - according to MRC Price reports.

Russian converters continue to increase the consumption of European PVC-E. Emulsion imports from Europe have gone up to the level of 7,5 kt since May, while in January this figure barely exceeded 4,5 kt. Russian linoleum producers actively increase the consumption. European emulsion started to replace Russian PVC even in smaller consumption sectors like vinyl wallpapers, artificial leather, toys etc.

The competitiveness of European emulsion in the Russian market was enforced by serious fall of Euro/Dollar exchange rate and, as a result, Euro/Ruble. Emulsion specificity causes quite a wide price range for the resin in Europe: EUR 940 - 1050/mt, FCA. Price offers in the spot market for Russian and European emulsion are on the average level RUB 57.000 - 58.500/mt, including VAT, FCA.


For more information about Russian PVC market please refer to MRC Price reports.

Indorama expands Rotterdam PET production

(prw) -- Thailand's Indorama is set to almost double PET production capacity at a site in Rotterdam, the Netherlands, to 390,000 tpa.

Indorama Polymers Rotterdam, which owns the site, is adding an additional production line with capacity of 190,000 tpa.

The company is also adding facilities such as a 24 MW power plant, silos and logistics facilities. Production will begin by the first quarter of 2012.