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MOSCOW (MRC) -- India's largest refiner and oil marketing company Indian Oil Corporation's Rs 34,555-crore 15 million tonnes per annum Paradip Refinery will be commissioned in phases from March 2015 onwards, said chairman B Ashok, as per Economictimes.
The refinery is capable for processing a broad basket of crude oil grades, including cheaper high-sulphur heavy crudes, which will help the company to improve bottomline, Ashok told.
Indian Oil Corporation (IOC), is conducting feasibility studies to set up a petrochemical complex at Paradip in Odisha for Rs 20,000 crore. The petrochemical complex would be built in the vicinity of the company’s to-be-commissioned 15-mln tpa greenfield refinery at Paradip. The petrochemical complex would be in addition to the already announced Rs 3,150-crore polypropylene project at the same location, the foundation stone for which was laid by MOS for petroleum and natural gas.
The state’s nodal agency for land acquisition and infrastructure development, Odisha Industrial Infrastructure Development Corporation (Idco) has sought approval from the state government to execute a memorandum of understanding (MoU) with IOCL.The pact’s objective is to chalk out a roadmap for development of a petrochemical complex at Paradip. The petrochemical complex, to be set up by IOCL, is a part of the PCPIR (petroleum, chemicals and petrochemicals investment region) hub.
Indian Oil Corporation Limited, or IndianOil, is an Indian state-owned oil and gas corporation with its headquarters in New Delhi, India.
MRC
Indian Oil Corporation Paradip Refinery to be commissioned from March 2015
Oriental Union Chemical Corp to shut down MEG plant in Taiwan
MOSCOW (MRC) -- Oriental Union Chemical Corp (OUCC) is in plans to shut its monoethylene glycol (MEG) plant for maintenance turnaround, reported Apic-online.
A Polymerupdate source in Taiwan informed that the plant is planned to be shut in end-December 2014 or early January 2015. It is likely to remain off-stream for around one month.
Located at Linyuan in Taiwan, the plant has a production capacity of 250,000 mt/year.
As MRC informed previously, on 3 November, Nan Ya Plastics restarted its No 3 monoethylene glycol (MEG) plant in Taiwan. It was under a month-long maintenance turnaround. Located in Mailiao, Taiwan, the plant has a production capacity of 360,000 mt/year.
We remind that Sinopec Hubei Chemical Fertilizer started a new MEG plant on February 8, 2014. Initially the plant was scheduled to start commercial production in late 2013. Located at Zhejiang in Hubei province of China, the plant has a production capacity of 200,000 mt/year.
Another Chinese petrochemical producer Hubei Chemical Fertilizer started up a new MEG plant in late 2013. Located in Hubei, China, the plant has a production capacity of 200,000 tonnes per year.
MRC
US PolyOne acquires specialty assets from Accella Performance Materials
MOSCOW (MRC) -- PolyOne Corporation, a premier global provider of specialized polymer materials, services and solutions, announced the acquisition of specialty assets from Accella Performance Materials, a leading North American manufacturer of liquid polymer formulations, as per the company's press-release.
Accella will retain its polyurethanes and rubber products businesses.
The acquired business joins PolyOne's Global Color, Additives and Inks segment, and provides specialty coatings solutions and value-added services in a wide range of applications, including consumer products, interior and under-the-hood automotive parts, outdoor recreational equipment and food packaging.
"We're thrilled to have acquired this specialty business and its innovative technologies, and we look forward to serving our newest customers with increased innovation, delivery, quality and services," said John V. Van Hulle, president, Global Color, Additives and Inks, PolyOne Corporation. "The acquired Accella technology portfolio complements our existing specialty business, and expands our presence in fast-growing end markets that are aligned with key megatrends."
With a purchase price of USD49 million, PolyOne expects the acquisition to add USD35 million to revenues and be accretive to earnings in 2015.
"This is a compelling acquisition that highlights our approach to M&A," said Robert M. Patterson, president and chief executive officer, PolyOne Corporation. "Our invest-to-grow integration playbook is one we have historically executed with great success. We will leverage our best-in-class technical, commercial and operational capabilities to drive growth for this new business, PolyOne, and most importantly our customers."
As MRC informed earlier, in February 2014, PolyOne Corporation announced the addition of new capabilities to its OnColor HC Plus portfolio. These expanded offerings add medical-grade LDPE, nylon, PEBA, PS and PVC to the globally available palette of specialty healthcare colorants, and are pre-certified to meet or exceed biocompatibility requirements for ISO 10993 and/or USP Class VI protocols.
PolyOne Corporation is a global provider of specialized polymer materials, services, and solutions. PolyOne is a provider of specialized polymer materials, services and solutions with operations in specialty polymer formulations, color and additive systems, polymer distribution and specialty vinyl resins.
MRC
PVC imports in Kazakhstan increased by 66% in January-October 2014
October imports of unmixed PVC in Kazakhstan seasonally decreased to 6,500 tonnes, compared with 8,700 tonnes in September. Total PVC imports in the country increased to 61,300 tonnes in January - October 2014, compared with 36,900 year on year.
Market participants said that such a serious increase in PVC imports, resulted from the reimports of the material, including in Russia.
The main suppliers of PVC in the local market were producers from China, with their share more than 95% from the total PVC imports into the country.
MRC
Poliom shut down its PP production
MOSCOW (MRC) -- Poliom (part of Titan Group), the third largest polypropylene (PP) producer in Russia after Tobolsk-Polymer and Nizhnekamskneftekhim, temporarily shut down its PP production because of technical issues, according to ICIS-MRC Price report.
The company's customers said Poliom shut down its production of polymer on 27 November due to technical problems. The company's representatives did not comment on the information regarding the outage.
According to unofficial information, the plant will not be idle for a long time and will have resumed its production by 1 December.
LLC "Poliom" was founded on 14 May, 2005 for the construction of the polypropylene (PP) plant within the petrochemical cluster project "PARK: regional agro-industrial clusters." The plant was built on Basell technology, the supplier of technological equipment was Tecnimont. The opening ceremony was held on 25 April 2013. The product range consists of 100 PP grades (homopolymer PP, statistical and block copolymers). In April 2014, the production capacity of Omsk PP Plant reached 210,000 tonnes of polypropylene per year. The plant's overall production totalled 142,800 tonnes over the firs ten months of 2014.
MRC