Max India in talks to sell polypropylene business

(Reuters) -- The Delhi-based company is in advanced negotiations with at least two overseas firms in Europe and the United States.

Max India is looking to divest its polypropylene business for an enterprise value of about Rs 800 crore as part of plans to exit its non-core business.

The Delhi-based company is in advanced negotiations with at least two overseas firms in Europe and the United States to sell its polypropylene films business. The transaction is expected to close sometime this quarter.

Polypropylene business is expected to have contributed about Rs 700 crore in revenue in the year ended March 31.


PlasChem Parks to be constructed in Jubail & Yanbu II

(zawya) -- The Royal Commission for Jubail and Yanbu is planning to construct two PlasChem Parks in Jubail and Yanbu Industrial Cities II to provide numerous industrial services such as products packaging to all new refineries, petrochemical, and downstream plants to be built in those areas.

PlasChem Parks are to attract the plastic downstream conversion industries, to house the downstream chemical manufacturers, and to provide common services & facilities.

The parks will generate more employment (up to 6 times) than the upstream industry, making low investments, compared to upstream petrochemical investments. They will bridge the economic gap between petrochemicals and the key demand sectors (automotive, packaging, and construction), and provide easy access to European and Asian end markets.


Sunoco to set up JV refinery with Carlyle Group LP

(Reuters) - Sunoco Inc announced exclusive talks with private equity firm Carlyle Group LP on a potential joint venture to run the biggest refinery on the U.S. East Coast, saying it would delay a planned closure of the Philadelphia plant by a month.

The talks with Carlyle could save the 330,000 barrel-per-day refinery from permanent closure, easing concerns that the East Coast may face a fuel shortage this summer after several major plants were shuttered.

Oil markets are closely watching to see if Sunoco finds a buyer for the plant, one of three refineries on the East Coast threatened with closure due to weak profits. It first put the plant up for sale in late 2011, but has failed to find much interest from traditional energy firms.


Eastman Chemical expands 2-ethyl hexanol plant

(chemicals-technology) -- Eastman Chemical has completed the expansion of its 2-ethyl hexanol (2-EH) facility in Longview, Texas, US.

The expansion will increase the 2-EH facility's capacity to approximately 37,000t per annum. Eastman Chemical Oxo and Plasticisers business performance chemicals and intermediates segment director Heidi Barnes said, "The added capacity reinforces our commitment to reliably supply our 2-EH customers, while also supporting growth in our plasticiser business for products like Eastman 168 non-phthalate plasticiser."

2-EH is an oxo derivative which is used in end products such as plasticisers, like Eastman 168 non-phthalate plasticiser, 2 ethylhexyl acrylate, and additives for fuels and lubrication oils. End markets for 2-EH include building and construction, transportation, medical, consumables and durable goods manufacture.

Eastman said its products including chemicals, fibers and plastics are used as key ingredients in everyday products.
Headquartered in the US, Eastman produces coatings, adhesives, specialty polymers, inks and fibers by utilising propane, ethane, butane, high sulfur coal, natural gas, wood pulp and acetone as feedstocks.

Eastman manufactures performance chemicals and intermediates, polymers and specialty plastics as well as supplies cellulose acetate fibers and produces PET polymers.


BASF to invest EUR150mln to set-up new chemical production site at Dahej

(oilandgasrecruiting) -- BASF India Limited will invest EUR150 million to set up a new chemical production site at the Dahej Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR), located on the west coast of India in Gujarat.

The new site will be an integrated hub for polyurethane manufacturing and will also house production facilities for care chemicals and polymer dispersions for coatings and paper.

With this new production site, BASF aims to ensure local supply for growing markets and industries such as appliances, footwear, automotive, construction, adhesives, architectural coatings, paper and personal care. The start of production is planned for 2014. The project will be financed by BASF India Limited through internal accruals and loans.

The integrated polyurethane facility will produce Elastollan TPU (Thermoplastic Polyurethane), Cellasto NVH (Noise, Vibration and Harshness) parts and Polyurethane Systems, which is supported by new production facilities for important precursors, comprising Polyetherols and Polyesterols plants as well as an MDI splitter.