Wirtschaft news of the polymerindustry - Dr. Gupta Verlag

INDONESIA: Chandra Asri uses two subsidiaries as collateral for expansion loans

PT Chandra Asri has placed the assets of its PT Styrindo Mono Indonesia (SMI) and PT Petrokimia Butadiene Indonesia (PBI) subsidiaries as collateral for loans totaling USD 533-million that will be used for expansion projects, the Jakarta Post reported.

Cellchem continues pursuit of USD 7.4 million award against Shekoy

Cobb County Superior Court (Georgia, USA) Judge Shepherd Howell upheld Cellchem International’s motion to force Shekoy Chemicals U.S. and three other defendants to post a supersedeas bond of USD 7.4 million by Friday, 9 August 2014 at 5:00 pm or face immediate collection efforts by Cellchem.

IRAN: Tehran attributes easing of pc sanctions for boost in production and exports

Iranian petrochemical production and exports have increased considerably in recent months as sanctions against Iran have been eased by the progress in talks between Iran and the U.S., Russia, China, France, Britain and Germany, the Fars News Agency reported.

SAUDI ARABIA: Cabinet clears PIF to establish domestic and overseas companies

Saudi Arabia’s Finance Minister Ibrahim al-Assaf announced that the Public Investment Fund (PIF) has been authorized to establish companies in the petrochemical, technology and housing sectors, both inside and outside the kingdom.

INDONESIA: Ferrostaal’s Indonesian methanol plans hampered by shortages of natural gas

Shortages of natural gas feedstock are delaying Ferrostaal GmbH’s plans to invest $8-billion in construction of a methanol-based olefins plant in Teluk Bintuni, West Papua, Indonesia.

KOREA (SOUTH): S-Oil anticipates new olefin complex with increased holding by Aramco

S-Oil Corp. plans to build a new olefins and downstream complex in Ulsan, South Korea, if Saudi Aramco completes a deal that would increase its interest in S-Oil, Yonhap News Agency reported.

INDONESIA: Elephants destroy rubber plantation in Tebo

Herds of elephants have damaged hundreds of hectares of rubber trees belonging to the Anak Dalam tribe in the Sungai Mandelang subdistrict, Sumay district, Tebo regency, Jambi province.

IRAN: Kavian Petrochemical eyes more ethane to achieve full capacity of 2-millon t/y

Kavian Petrochemical expects to begin receiving additional ethane feedstock from the South Pars gas field, allowing the company to realize its full ethylene production capacity of 2-million t/y, according to Fars News Agency, quoting plant manager Ramezan Owladi.

CHINA: Invista resolves trade secret lawsuit initiated against engineer Initiated Against Engineer in China Beijing—

Invista has resolved an intellectual property lawsuit it initiated through the Beijing Intermediates People’s Court against a Chinese engineer for misappropriation and infringement of trade secrets relating to a portion of Invista’s purified terephthalic acid (PTA) technology.

MALAYSIA: Elevance collaborating with Genting in production of bio-based chemicals

Elevance Renewable Sciences announced a collaboration with Genting Plantation, through Genting Integrated Biorefinery (GIB), for the production of high-performance olefins and specialty chemicals from palm oil.

RUSSIA: Uhde Inventa-Fischer tapped to design polyester facility for Ivregionsynthes

Uhde Inventa-Fischer has been selected to provide the design of a polycondensation unit to produce 180,000 t/y of polyester polymer for Russian firm CTC Ivregionsynthes in Russia’s Ivanovo region.

TANZANIA: Tyres to roll out at GTEA again as plant set for revival

German tyre manufacturer Continental AG has finally agreed to offload its 26 % stake in the once thriving General Tyre East Africa (GTEA), hence giving a leeway to the government of Tanzania to scout for strategic investor to revive the plant.

MALAYSIA: Rubber glove export to increase by 14.3 % in 2014

Malaysia's rubber glove export is targeted to hit RM12 billion in 2014 or increase by 14.3 % compared to RM10.5 billion in 2013, driven by higher global demand for rubber gloves, said the Malaysian Rubber Glove Manufacturers Association (MARGMA).

VIETNAM: Rubber glut to last another two years

Despite a fall in rubber export prices, many farmers in Viet Nam are earning good profits from exports, a seminar heard on 14 July 2014 in HCM City. With an oversupply of rubber in the market, the price plummeted to USD 1,979 a tonne in the first half of the year compared to its peak of USD 3,000 a tonne in 2011, said Pham Dong Quang, deputy head of the Crop Production Department.

WORLD: Nexen Tire scoops two German design awards

A milestone achievement has been made by Nexen Tire in terms of design and performance. Both Nexen N’FERA SUI UHP tire and N9000 tire have become winners at the 2014 German iF Design Awards.

OMAN: Orpic meets with potential contractors for briefing on Liwa plastics project

Oman Oil Refineries and Petroleum Industries Co. (Orpic) on 8 July held a workshop for regional and international engineering, procurement and construction contractors to brief them on the pre-qualification tender for its USD 3.6-billion Liwa Plastics Project.