Emaar announced construction of PP plant at KAEC

(US-SABC) -- Emaar, the Economic City (Emaar), has announced the commencement of construction of a new polypropylene manufacturing facility in the industrial area of King Abdullah Economic City (KAEC). U.S. industrial packaging manufacturer Greif, Inc., through a joint venture with the National Scientific Company of Saudi Arabia, is building the facility, which will produce polypropylene woven fabric for use in flexible intermediate bulk containers for the packaging industry. The facility will be more than 2.02 mln square feet (188.000 square meters) and is scheduled to begin production in 2012 and be operating at full capacity by 2016. Emaar is managing the planning and development of KAEC, the 65 square-mile (168 square-kilometer) city which is scheduled for completion in 2029.


Reliance Industries Limited to establish JV with D. E. Shaw group

(Reliance Industries) -- Reliance Industries Limited and the D. E. Shaw group announced
today that they have agreed to establish a joint venture to build a leading financial services
business in India. This joint venture will incorporate the D. E. Shaw group's investment and
technology expertise with Reliance's operational knowledge and extensive presence across
India to offer a comprehensive array of financial services to the Indian marketplace.

Reliance is delighted to partner with the D.E. Shaw group in the financial services domain.
The D.E. Shaw group is a natural partner for Reliance. Together, we look forward to
participating in the growing Indian financial services sector, said Mr. Mukesh Ambani, the
Chairman and Managing Director of Reliance Industries Limited.

⌠This joint venture will draw upon the core competencies of both firms to develop a platform
that can serve the growing needs of Indian companies and individuals, said Anil Chawla, a
Managing Director and head of the D. E. Shaw group's private equity activities in India.

The D. E. Shaw group is a global investment and technology development firm with more than
1.300 employees; approximately USD 20 bln in aggregate investment capital as of March 1,
2011; and offices in North America, Europe, the Middle East, and Asia. Since its organization
in 1988, the firm has earned an international reputation for financial innovation, technological
leadership, and an extraordinarily distinguished staff.


Chemplast Sanmar to increase the production capcity of its PVC resin plant at Cuddalore

(Indian Chemical News) -- Chemplast Sanmar has sought the Ministry of Environment and Forest's clearance for increasing the production capacity of its PVC resin plant at Cuddalore from 170.000 TPA to 226.000 TPA. The company earlier appointed Business Consulting Group (BCG) to assess the domestic suspension of PVC market. The survey indicated that the future demand for PVC in India is expected to grow at the rate of 11 percent or more.


Ecom Energia to sign a purchase agreement with Braskem

(Braskem) -- Ecom Energia, the largest independent energy trader in Brazil has signed a long-term power purchase agreement with Braskem, the largest thermoplastic resin producer in the Americas. "Our main advantage that helped us close the deal with Braskem was the certification of our energy balance. Agreements with durations longer than six months receive a certification issued by PricewaterhouseCoopers that guarantees that the power sold by Ecom is available in our portfolio," said Paulo Toledo, managing partner at Ecom Energia.

He also added that "it is very important to be recognized by a company like Braskem." The agreement ratifies the ethical conduct and commitment before clients and suppliers. The commitment, flexibility and solid experience of its management also was a factor in winning the contract.

According to Andre Gohn, Braskem's Energy Director, "this agreement increases the competitiveness of our portfolio and is aligned with our risk management and growth strategy."

Ecom has already reached the mark of more than 570 MW average of power sold to free consumers and market agents, which is sufficient to supply to a city with a population of 2.9 million people. Revenue in 2010 surpassed R$ 430 million, for growth of over 100% from 2009.


Braskem-Idesa to take important steps for the development of Ethylene XXI project

(Plastemart) -- Braskem-Idesa, the joint venture between the Brazilian Braskem and Mexican Group Idesa has taken another important step for the development of its Ethylene XXI project in Mexico. The JV has chosen Technip as technology provider for the development of its 1.05 KTa ethylene cracker based on ethane. This is part of the petrochemical complex to be built in Coatzacoalcos/Nanchital region, in the Mexican state of Veracruz, which is planned to be ready for start-up by the end of 2014. The complex will also include one low density polyethylene and two high density polyethylene plants.

Braskem-Idesa has also selected Technip as contractor for the front-end engineering design (FEED) of the cracker and high density polyethylene plants. Technip is the largest contractor with remarkable experience on implementing mega-crackers for ethylene production with EPC approach.