Equate to invest USD1.7 bln in petrochemical plant in the US

MOSCOW (MRC) -- Kuwait’s Equate is constructing a petrochemical plant in the US Gulf Coast at an investment outlay of USD1.7 bln (Dh6.2 bln), the chief executive officer told Gulf News at a conference organised by Gulf Petrochemicals and Chemicals Association, reported Plastemart.

The production capacity of the plant, which is expected to be ready in H2-2019, is planned to be 750,000 tons.

As MRC wrote previously, Kuwait-based Equate Petrochemical Company continued its global growth through its wholly owned subsidiary MEGlobal with the launch of work on a new world-scale ethylene glycol (EG) manufacturing facility in Freeport, Texas, US, in August 2016. The new facility, to be completed during 2019, will increase Equate’s monoethylene glycol (MEG) capacity by 750,000 metric tonnes annually and will enhance the company’s global presence to meet customer needs.

Established in 1995, Equate Petrochemical Company is an international joint venture between Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Commencing production in 1997, EQUATE is the single operator of a fully integrated world-scale manufacturing facility producing over 5 million tons annually of high-quality petrochemical products which are marketed throughout the Middle East, Asia, Africa and Europe.
MRC

Linde rejects call for AGM vote on Praxair merger

MOSCOW (MRC) -- Germany's Linde has for a second time rejected a request for a shareholder vote at its annual general meeting next month on its planned USD65 billion merger with U.S. industrial gases rival Praxair, reported Reuters.

Linde said shareholders would in any case have to decide individually whether to accept a public offer from the new combined holding company, so a vote at the AGM on May 10 would not be appropriate.

"Even if a qualified majority of Linde shareholders would accept the exchange offer, not a single Linde shareholder will be forced to exchange his shares," it said in a filing to the U.S. Securities and Exchange Commission.

Linde was responding to a renewed request from German private-investor association DSW, which came on behalf of shareholders Aberdeen Asset Management and BayernInvest.

As MRC wrote before, in early December 2016, Praxair approached the German company with fresh proposals for a merger of equals to create a world market leader valued at over USD60 billion. These proposals address several concerns that led Linde to call off earlier merger discussions in September 2016, principally the location of the merged group headquarters, management issues and potential job losses in Germany, according to insider reports.

The Linde Group is a world-leading gases and engineering company with around 62,000 employees in more than 100 countries worldwide.
MRC

Cosmo Films to set up new production line for speciality polyester BOPET films

MOSCOW (MRC) -- Cosmo Films Limited has announced plans to install a new production line at Waluj for Speciality Polyester (Biaxially-Oriented Polyethylene Terephthalate) films by Q3 of 2018-19, as per Business Standard.

The new unit is expected to be ready by the third quarter of 2018-19.

The new line will be commissioned at Waluj plant site in Aurangabad, Maharashtra with a capacity of 36,000 mtpa. The project for the new line will entail an investment of Rs. 250 crores and shall be funded through a mix of internal accruals and debt.

This plant already houses BOPP lines, extrusion coating lines, chemical coating lines, metallizers and a CPP line. The new production line will complement the existing BOPP capacity of 200,000 mtpa and allow Cosmo Films to offer a more comprehensive speciality product basket to flexible packaging, labeling, lamination and industrial applications.

Mr. Pankaj Poddar, CEO, Cosmo Films Ltd said, "Speciality BOPET is one of the fastest growing substrates and we anticipate a strong demand for these films. This will enable us to do import substitution as well as take global market share."

As MRC reported earlier, in March 2017, Cosmo Films commenced a new line of production of biaxially-oriented polypropylene (BOPP) films. The new line has a capacity of 60,000 tpa, which will enhance the company’s overall capacity by 4%. Cosmo Films’ overall BOPP manufacturing capacity will move up from the current 1.36 lakh tpa to 1.96 lakh tpa. The new line was of the highest capacity in the world at the time of commissioning and is the first 10.4 metre wide line in India.

Cosmo Films Limited Established in 1981, Cosmo Films Limited is one of the global leaders and manufacturers of BOPP Films. It is the largest exporters of BOPP films from India and largest manufacturer of thermal lamination films in the world. The films make their way into flexible packaging, labels and lamination industry.
MRC

Air Liquide to supply hydrogen purification technology for methanol production complex

MOSCOW (MRC) -- Air Liquide Engineering and Construction will supply a hydrogen purification Pressure Swing Adsorption (PSA) unit to one of the largest methanol production facilities to be built by Yuhuang Chemical Inc in St. James Parish, La., as per recently signed agreement. Purified hydrogen will enable higher efficiency of methanol production, with less natural gas consumption per ton of methanol, said Reuters.

In 2014 Air Liquide was selected as the technology provider for the methanol plant and in 2015 as the supplier of oxygen for its world scale methanol manufacturing complex. Air Liquide Engineering & Construction also provides detailed engineering and procurement services for the complex.

Yuhuang Chemical Inc.—a US subsidiary of Shandong Yuhuang Chemical Co. Ltd.—is building a world scale chemical complex on 1,300 acres in St James Parish, Louisiana. Construction of the methanol complex has begun this year, with the first phase of the methanol project beginning operations by 2018.

"Air Liquide Engineering & Construction is pleased to provide hydrogen purification solutions complementing our methanol and ASU technologies for the largest methanol production facility in Louisiana," said Chad Briggs, Vice President Sales & Technology of Air Liquide Engineering & Construction. "Our capabilities in designing and operating PSA units date back to the early 1960s and since then we continuously improve our offer for the benefit of our customers. This is the case with YCI, who has proven to be a valued partner and we look forward to a long lasting relationship.’"
MRC

Shanghai Golden Phillips brought on-stream HDPE plant in China

MOSCOW (MRC) -- Shanghai Golden Phillips Petrochemical Co has restarted its high density polyethylene (HDPE) plant, as per Apic-online.

A Polymerupdate source in China informed that the company has resumed operations at its plant on April 10, 2017. The plant was shut owing to weak economic fundamentals.

Located in Shanghai, China, the HDPE plant has a production capacity of 135,000 mt/year.

As per MRC's ScanPlast Report, February HDPE production in Russia was 70,400 tonnes, whereas in January it was about 84,500 tonnes. The decrease in production was caused by the switch-over of Nizhnekamskneftekhim to the linear low density polyethylene (LLPDE) output in late January. Overall HDPE production exceeded 154,900 tonnes in January-February 2017, compared to 162,200 tonnes a year earlier. Kazanorgsintez and Stavrolen's higher production did not help to compensate for lower output at other plants.

Shanghai Golden Phillips Petrochemical Co. Ltd. manufactures petrochemical products. The company produces and sells blow molding products, films, pipes, and wire resins. Shanghai Golden Phillips Petrochemical also offers after sales services.
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