Uniplas to establish Indian petrochemical complex

(chemicals-technology) -- The Indian ministry of chemicals has asked the government of Odisha to consider the possibility of setting up a petrochemical complex at the state's PCPIR (Petroleum, Chemicals and Petrochemicals Investment Region) hub by UAE-based Uniplas Petrochemicals.

"The PCPIR project in Odisha, to be established across 284.15 square kilometres of land, is expected to be on stream by 2030."

The UAE-based company is planning to set up a 150ktpa capacity petrochemical complex, worth nearly Rs 55bn (USD1m), by using foreign direct investment to produce caustic soda, ethylene, chlorine, PVC (polyvinyl chloride) and PVC compounds.

PCPIR director Geeta Menon was quoted by Business Standard as saying that Uniplas Petrochemicals has expressed an interest in investing in the various PCPIRs being set up in different parts of the country.

''In India, Uniplas is exploring the possibility of setting up grassroot complex to produce PVC for sale in the Indian as well as overseas markets,'' Menon added.

''While the company is at present examining the possibility of investing in the Gujarat PCPIR, your state government may also like to consider this offer in view of the fact that such an investment would provide [a] tremendous value addition and pave the way for an integrated value chain to be developed as envisaged in the PCPIR policy."
The complex will also generate direct employment for nearly 250-300 people and indirect employment to more than 10,000 people.
MRC

(platts) -- Solvay Indupa, a leading PVC and sodium hydroxide producer in Argentina and Brazil, saw its loss widen to 144.7 million pesos (USD30.3 million) in the first nine months of 2012 from 10.1 million pesos in the year-earlier period as sales fell and costs rose.

The Buenos Aires-based company, which is controlled by Belgium's Solvay Group, said in a preliminary financial report that sales revenue fell 1.1% to 2.399 billion pesos in the first nine months of 2012 compared with 2.423 billion pesos in the January-September period of 2011.

The company blamed the weaker performance on low PVC prices in Argentina and Brazil and a flood of cheaper PVC from foreign suppliers.

The business also took a hit from a seasonal decline in the supply of natural gas feedstock, in particular during the third quarter. On the brighter side, the company said PVC sales in Argentina rose 16% in the third quarter from a year earlier as buyers bought supplies to replenish sagging inventories.

Yet PVC imports rose 30% over the same period as producers elsewhere turned to Latin America to sell product as demand suffers in other markets. Much of the imported supplies were sold at below-market prices, making it harder for Indupa to compete, it said.

In Brazil, PVC sales rose 11% in the third quarter compared with the year-earlier period on steady orders from public works projects as well as from makers of film, cables and laminates. Liquid sodium hydroxide sales rose 2% over the same period in Brazil, it added.

Indupa produces PVC at a 240,000 mt/year facility in Bahia Blanca and at a 274,000 mt/year plant in Santo Andre, Brazil. It also produces chlorine, ethylene dichloride and vinyl chloride, among other products.
MRC

(plastemart) -- As part of its plan to implement projects that contribute to the oil chemicals production network, Atyrau Oil Refinery will invest in petrochemicals production in Kazakhstan.

New facilities for production of aromatic hydrocarbons are being constructed at Atyrau Oil Refinery. The construction is scheduled to complete in December 2013.

When this production kicks off, Kazakhstan will create an integrated chain of oil chemicals production facilities producing high value-added goods. According to the company, introduction of the new facilities for production of aromatic hydrocarbons will increase Atyrau Refinery's production capacity to 133,000 tons of benzole and 496,000 tons of paraxylene. The company will reach the rated capacity after 2013. The project is worth USD1.04 bln.

The project will have two stages: the first stage - establishment of production of polypropylene with the capacity of 500 thousand tons a year, the second stage - establishment of production of polyethylene with the capacity of 800 thousand tons a year.
MRC

MOSCOW (MRC) - Despite Rosneft's acquisition of TNK-BP , the privatization of the company will take place, according to the statement of Dmitry Medvedev, Prime Minister of the Russian Federation.

"I believe that the state should interfere with the company only in very extreme cases and, moreover, it is necessary to consistently pursue a policy of minimizing government involvement in the companies," - Medvedev said at a press conference in Hanoi, answering journalists' questions.

As MRC reported previously, the shareholders of TNK-BP officially announced the sale of its shares to Rosneft in late October. As a result, Rosneft became the world leader in terms of reserves and production, as well as in terms of the debt. The transaction should be completed within six months. Rosneft plans to finance the transaction from its own assets (USD 4.5 billion) and loan funds (the company planned to take 15 billion dollars).
MRC

MOSCOW (MRC) -- Westlake Chemical's net income in Q3 2012 amounted to USD87.0 million, or USD1.30 per share from USD67.9 million, or USD1.01 per share, last year. The company's sales for the said quarter totalled USD821.2 million from USD968.4 million last year, as per rttnews.

Westlake' profit was expected to be USD1.36 per share on revenue of USD902.24 million for Q3 2012, according to analysts' estimates.

"We are pleased to report our strongest third quarter in the company's history, driven by strong demand for ethylene derivatives and low feedstock costs. We are continuing to make progress on our previously announced expansions that should grow our bottom line and allow us to capitalize on the low cost ethane feedstock and energy costs that shale gas is providing. This includes the expansion of our ethylene capacity in Lake Charles, the construction of a new chlor-alkali plant in Geismar, Louisiana and the recently announced conversion to ethane feedstock and the expansion of ethylene and PVC capacity in Calvert City, Kentucky," said Albert Chao, President and Chief Executive Officer.

As MRC reported earlier, Westlake would expand its existing PVC plant in Calvert City, Kentucky, and planed to convert the feedstock for its Calvert City ethylene plant from propane to ethane as well as increase its ethylene capacity from 450 million pounds per year to 630 million pounds per year. This expansion and feedstock conversion will add approximately 200 million pounds per year of PVC capacity to the existing 1,100 million pounds of annual capacity, enhance Westlake's vinyl chain integration and leverage low cost ethane being developed in the Marcellus shale area.
MRC