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MOSCOW (MRC) -- Oman is seeking loans to help finance its USD3.6bn petrochemical project, from banks and export credit agencies, said Researchviews.
The National cited the state-owned Oman Oil Refineries and Petrochemical Industries (Orpic) official as saying that the government plans to develop the 1.1 million ton per year petrochemical plant in the Sohar industrial zone.
Liwa Plastics, an Orpic project, general manager Henk Pauw said that a total of USD600m will be contributed by the government for the USD1bn project.
Pauw said: "We are still talking to banks. We have engaged with export credit agencies." Planned to begin operations in the fourth quarter of 2018, the facility is expected to improve Orpic's petrochemical output to 1.4 million tons annually.
Currently, Orpic is tendering for engineering, procurement and construction contracts, reported the publication. Contracts signing and investment approval are scheduled by October 2015 with construction planned to commence in 2016.
We remind that in late 2012 Orpic announced that its production of world class high quality polypropylene homopolymer at Sohar plant has crossed 1 million tonnes. This was a significant milestone for the polypropylene (PP) plant in Sohar, which began production in October 2006.
Created from the integration of three companies - Oman Refineries and Petrochemicals Company LLC (ORPC), Aromatics Oman LLC (AOL) and Oman Polypropylene (OPP) - Orpic is one of Oman's largest companies and is one of the rapidly growing businesses in the Middle East's oil industry. The refineries at Sohar and Muscat, as well as our aromatics and polypropylene production plants in the Sohar complex, provide fuels, chemicals and feedstock to Oman and to the world.
mrcplsat.com
Oman seeks USD3.6bn funding for petrochemical project
ABS imports in Russia dropped by 27% in January 2015
MOSCOW (MRC) - In January imports of acrylonitrile-butadiene-styrene (ABS) in the Russian market decreased by 27% compared to January 2014. Total imports of ABS in the country in January 2015 were 1,750 tonne, according to MRC DataScope.
Injection moulding grades of ABS prevailed in the structure of imports. The share of injection moulding ABS in the total structure of January imports in the country occurred for 93% (1,600 tonnes). The remaining volume of imports occurred for the extrusion grade.
The largest volume of January ABS imports occurred for RS670 by LG Chem production. The producer did not deliver the traditional import brand HF380 in January.
The largest consumers of imported ABS in Russia were foreign companies-producers of home appliances and electronics. Traditionally, these are brands like LG, Samsung and concern BSH (Bosch and Siemens). Koros was the leader among ABS suppliers for Russian companies.
LG Chem to shut cracker in South Korea for maintenance
MOSCOW (MRC) -- South Korean petrochemical company LG Chem is in plans to shut a naphtha cracker for maintenance turnaround, reported Apic-online.
A Polymerupdate source in South Korea informed that the cracker is planned to be shut on March 15, 2015. It is expected to remain off-stream for one month.
Located at Daesan in South Korea, the cracker has an ethylene capacity of 900,000 mt/year, propylene capacity of 450,000 mt/year and butadiene capacity of 145,000 mt/year.
As MRC wrote before, LG Chemical is likely to shut its polypropylene (PP) plant in South Korea for a one-month maintenance in late March 2015. Located at Daesan in South Korea, the plant has a production capacity of 600,000 mt/year.
LG Chemical is also likely to shut its ethylene vinyl acetate (EVA) plant for maintenance turnaround in end March 2015. It is likely to remain off-stream for around three weeks. Located at Daesan in South Korea, the plant has a production capacity of 140,000 mt/year.
Besides, LG Chem has recently unveiled its plans to shut down a styrene monomer (SM) plant for a one-month maintenance turnaround in South Korea in March 2015. Located in Daesan, South Korea, the plant has a production capacity of 180,000 mt/year.
LG Chem Ltd., often referred to as LG Chemical, is the largest Korean chemical company and is headquartered in Seoul, South Korea. According to ICIS report, it is 15th biggest chemical company in the world in 2011. It has eight domestic factories and global network of 29 business locations in 15 countries. LG Chem is a manufacturer, supplier, and exporter of petrochemical goods, IT&E Materials and Energy Solutions.
MRC
Russian PC was not exported to the foreign countries in January 2015
MOSCOW (MRC) - Russian polycarbonate (PC) was not exported in January 2015, according to MRC DataScope report.
In January 2014 the export of PC granules from Russia were 72 tonnes. Total exports of Russian PC were 7,000 tonnes in 2014, down 63% year on year.
The only PC maker in the CIS, Kazanorgsintez (KOS), last year adopted a strategy of import substitution in the Russian market, which has been successfully implemented within the capacity of the enterprise. It was decided to change the production structure, reducing the proportion of injection moulding grades and increasing the share of extrusion, according to the needs of domestic consumers.
Russian injection moulding PC is in demand in the foreign markets. Despite that Kazanorgsintez's production of injection moulding PC in January significantly exceed domestic demand, the producer does not plan to export it, said the representatives of the plant. The company continues to prepare for the spring season.
Contrary to the deterioration of macroeconomic indicators of the Russian Federation, traders and converters expect a fairly high sales activity in April and May.
MRC
Production of products from polymers in Russia rose by 13.6% in January 2015
MOSCOW (MRC) -- Last month's output of finished products from polymers in Russia increased by 13.5% year on year. Producers of polymer films and sheets raised their production, reported MRC analysts.
January production of key products from polymers in Russia grew by 13.5% year on year, whereas production, on the contrary, fell by 28.5% from December 2014.
According to the Federal State Statistics Service, the January output of non-combined and unreinforced films was 74,500 tonnes versus 49,200 tonnes in January 2014 and 105,000 tonnes a month earlier.
Last month's production of plates and porous sheets rose to 17,000 tonnes from 14,800 tonnes in January 2014 (19,200 tonnes in December 2014).
The January output of plastic pipes, hoses and fittings fell to 21,900 tonnes from 26,300 tonnes in January 2014 and 52,600 tonnes a month earlier.
January production of plastic windows and window sills totalled about 1.1 million square metres versus 1.2 million sq. metres in January 2014 and 2.1 million sq. metres in December 2014.
MRC