India intends to purchase shares in Belaruskali

( This week Indian officials are going to come to Belarus to recommence talks about purchasing shares in the Belarus-based company JSC Belaruskali.

Joint Stock Company "Belaruskali" is one of the world's biggest producers and it is the biggest producer and supplier of potash mineral fertilizers on the territory of the CIS.

Canadian and Russian potash market participants with JSC Belaruskali are the main suppliers of potash. They control over 55% of the whole production in the world.

JSC Belaruskali offered India 20% of shares in the company. The stake is estimated at USD 6 billion, but Indian officials regard the price as too high.

Meanwhile, the valuation of the deal is not the only obstacle in closing the bargain.


Indorama reorganized Trevira GmbH in Germany

(ivl) -- To improve the production and marketing efficiencies of the Indorama Ventures joint venture Trevira GmbH, management of the company will reorganize and consolidate the strategic location of all its filament yarn production by moving its texturizing capacity from Zielona Gora in Poland to Guben in Germany, where Trevira already has production facilities.

This reorganization is expected to enable the business to lower its cost structure and serve customers more efficiently. The move is expected to be completed by the end of 2012.


Indorama to build PTA-PET plant in India

(ivl) -- Indorama Company (IVL), Thailand's largest polyester producer, announced its plan to construct a world-class, state-of-the-art and integrated facility in India containing PTA (Purified Terephthalic Acid), PET (Polyethylene Terephthalate) and PSF (Polyester Staple Fiber) plants fully-integrated with a third party Paraxylene producer. A Memorandum of Understanding was signed with Indorama Synthetics (India) Limited to enter into a joint venture that would construct and utilize the offtake of the plants.

Mr. Aloke Lohia, Group CEO and founder of Indorama Ventures said, "India today is a fast-growing market that is demanding attention from the world's fast moving consumer goods companies, who are our customers. It is imperative that we are there to serve these customers and the emerging local producers who will be consuming more and more PET and PSF over the next decade. We are looking at the long term double digit growth in demand for such products and feel this is the right time to move into the market. "

The large-scale project is expected to cost around USD 700 million. Details of the capacity and location are expected to be made public once formal negotiations have been completed.

Indorama Ventures Public Company Limited, listed in Thailand is a leading producer in the polyester value chain in Thailand with strong global network and manufacturing across Asia, Europe and North America. Its products serve major players in diversified end use markets, including food, beverages, personal and home care, health care, automotives, textile, and industrial. The company's main products are PTA, PET and Polyester fibre, which are distributed across the world. IVL has approximately 8,920 employees worldwide and last 12 months consolidated revenue of USD 5.5 billion.


Japan petrochemical producers step back from their position in the global market

(chemmonitor) -- Japan-based petchem makers are heard to lose the market competitiveness. This comes as s result of the foreign exchange trends.

Local makers expect fixed costs of units to become larger. However, their utility costs are currently at a comparatively high level.

Some naphtha cracker plants are expected to be closed this year. This will negatively impact downstream units. For instance, the ones employed in synthetic rubber production.

The demand for petchem products is set to stay relatively slow this year in China, especially from the downstream construction sector.


Europe challenges Iran-based petchem makers

(chemmonitor) -- The Iranian petrochemical industry is now under pressure of sanctions imposed against it by Europe.

For instance, the European government banned imports of petroleum and crude oil products from the country. Besides, Europe-based makers are prohibited to sell their equipment and technologies to Iranian companies.

This will lead to postponements of polyethylene (PE) and polypropylene (PP) projects launched in the country.

The Europe manufacturers are also forbidden to make any investments in petrochemical projects of the country and form any joint ventures with Iranian firms.