Norway's Yara establishes AN plant JV with Orica and Apache

(goldseiten) -- Yara has agreed with Orica and Apache to form joint ventures to build a 330,000 metric tons ammonium nitrate (TAN) plant on the Burrup peninsula and distribute ammonium nitrate and other explosives products to mining customers in the Pilbara region.

"This is an important and value creating project for Yara that confirms our dedication and ambition to be among the leading suppliers of TAN globally. Together with our partners, we look forward to servicing the fast growing Pilbara iron ore market," said Jorgen Ole Haslestad, President and Chief Executive Officer of Yara.

The joint venture will be owned 45% by Yara, 45% by Orica and 10% by Apache. Construction of the plant is expected to have a capital cost of approximately USD 800 million excluding capitalized interest, and be completed by the end of 2015. Tecnicas Reunidas will be appointed as the Engineering, Procurement and Construction contractor under a fixed price, turnkey contract. Yara will manage construction and ongoing operation of the ammonium nitrate plant.

Upon commencement of construction, Orica will pay approximately USD 110 million for the 45% stake, to be split between Yara and Apache.

MRC

(plastech) -- DuPont extends AEM performance with Vamac Ultra HT for 180°C turbo hose and air duct applications.

High performance DuPont Vamac Ultra HT ethylene acrylic elastomer helps the automotive industry solve powertrain and chassis light-weighting and efficiency challenges in turbo hoses and air ducts.

DuPont Performance Polymers (DPP) will showcase its portfolio of high performance elastomers that help automotive design engineers increase powertrain and chassis efficiency through light-weighting, turbo charging and engine downsizing leading to increased fuel economy and reduced emissions.

A highlight will be DuPont VamacUltra HT, a new grade of ethylene acrylic elastomer (AEM) that extends the Vamac Ultra family of high performance elastomers. Vamac Ultra HT offers enhanced continuous heat resistance up to 180°C, with peaks to 200°C significantly beyond the performance of standard AEM making it suitable for demanding automotive applications such as turbo hoses and air ducts.

MRC

(chemmonitor) -- The Tokyo-headquartered Japanese polyolefin company Prime Polymer Co. Ltd. purchased a controlling block of shares in the Sao Paulo-headquartered polypropylene (PP) compounder, located in Brazil.

Prime Polymer Co. Ltd. -- a resin and compounding joint venture majority owned by Japanese conglomerate Mitsui Chemicals Inc. -- has acquired a controlling stake in a Brazilian compounder.

Tokyo-based Prime Polymer also has confirmed plans to increase compounding capacity at joint venture sites in the U.S., Mexico and China. All of the moves are in polypropylene compounding, primarily for automotive markets.

In Brazil, Prime Polymer has purchased a 70 percent stake in Produmaster Industria e Comercio Ltda. for an undisclosed price. Produmaster is based in Sao Paulo and operates a total of 120 million pounds of PP compounding capacity at sites in Sao Paulo and Camacari.

MRC

(Reuters) -- China's consumption of plastic could grow by up to 7% in 2012 after stalling in 2011, but the rebound will not be enough to melt a regional supply glut that will curb the output of plastic manufacturers and pressure the petrochemical market.

Weak traditional export markets and Bejing's steps to cool economic growth are still hitting sales. As a result, Asian plastic exporters face possibility of scaling back production further this year, in turn cutting demand for naphtha.
China's consumption of plastic by Asia's top importer growing around 5-7%, up on last year's flat growth but well down on the double-digit growth in 2009-2010.

Higher oil prices with Brent crude averaging USD118.21 a barrel this year, up 6.6% from 2011's USD110.91, are also squeezing margins, which could push plastic makers to cut runs, hitting demand for the raw material ethylene made from naphtha. Several processors are going buying need based and keeping inventories low. If raw material costs get too high, people would stop buying.

China has forecast its economy will grow 7.5% in 2012, the slowest in eight years, with exports crimped to traditional customers such as Europe and the United States.

MRC

(presstv) -- Iran is set to officially inaugurate three important petrochemical industry projects in the country?s Mahshahr Petrochemical Special Economic Zone.

The projects include the polyvinyl chloride (PVC) production line at Arvand Petrochemical Complex, the oxygen and nitrogen production line at Maroon Petrochemical Plant and the second liquids loading pier at Mahshahr Petrochemical Special Economic Zone.

All three enterprises are due to be inaugurated in the presence of senior Iranian officials on Monday, May 21. Arvand, the fourth petrochemical complex to produce PVC in Iran, will increase the country's annual production capacity by 340 thousand tons.

The output will fully satisfy Iran's domestic demands and even turn the country into a PVC exporter. It is estimated that the Islamic Republic will hold 25 to 30 percent of the global market following the export of the product.
MRC