Selected articles on industrial development in emerging economies

India: Petrochem imports may get cheaper in war on inflation

Prices of many commonly-used consumer products using petrochemical inputs may decline after the upcoming budget. The department of chemicals and petrochemicals has made a strong case for a sharp cut in the customs duty on various building blocks and catalysts used in the chemical and petrochemical industry.

The Economic Times [© Times Internet Limited]

India: Rallis targets top spot in farm chemicals

Rallis, the agrochemical company of the Tatas, is aiming to become No. 1 in the domestic market and double export revenues. It is setting up two plants at a combined investment of Rs 200 crore and scouting for acquisitions at home and abroad to give a fillip to the seeds and speciality chemical businesses.

The Telegraph [© The Telegraph]

Taiwan: Formosa Plastics to gain from 'robust' Chinese demand

According to KGC Securities Co., Formosa Plastics Corp., the world's third-largest maker of polyvinyl chloride, is poised to benefit from 'robust'' petrochemical demand in China. Formosa Plastics Group, which has a 'complete supply chain in petrochemicals', will benefit from reduced earnings volatility and the high chemicals prices forecast for 2008.

Bloomberg.com [© Bloomberg L.P.]

Dow and Kuwait group in plastics deal

Dow Chemical is to inject its low-growth plastics business into an $11bn joint venture with Kuwait’s state oil company in another sign of the deepening relationship between cash-rich Middle Eastern investors and struggling western companies.

FT.com [© The Financial Times Ltd.]

India: Reliance's Ambani says funding, oil price 'challenge' to growth

Reliance Industries Ltd. Chairman Mukesh Ambani said raising funds to acquire competitors and build a global petrochemicals business may be 'challenging'' because of higher energy prices and the subprime credit collapse. Building petrochemicals plants in the Middle East will be the best way for Reliance to meet a quadrupling of chemicals demand in India in the next 10 years.

Bloomberg.com [© Bloomberg L.P.]

India: There is large scope for investment under the PCPIR policy

According to the ministry of chemicals and fertilizers, the Petroleum, Chemical and Petrochemical Investment Regions (PCPIR) policy of the government would not attract investment on the basis of fiscal incentives but would be driven by the infrastructure such as internal pipelines, gas connectivity, sewerage lines and so on.

The Navhind Times [© Navhind Papers & Publications Ltd]

India: Nirma expands chemicals biz horizon with acquisition in US

Nirma’s acquisition of Searles Valley Minerals (SVM) coincides with a boom in the soda ash market. This signals Nirma’s desire to enter the American market, even if valuations are high. Nirma’s chemicals business over the years has grown much faster than its detergents business, contributing about one-fourth to its turnover.

The Economic Times [© Times Internet Limited]

China Clean Energy to expand specialty chemicals product offering

China Clean Energy Inc., a leading producer of biodiesel fuel and specialty chemical products made from renewable resources in China, has upgraded its specialty chemicals plant to produce High Performance or Multi-Purpose Hot Melt Adhesives from its patented proprietary processes.

CNNMoney.com [© Cable News Network]

India: Tata Chemicals joins ICRISAT's sweet sorghum ethanol consortium

The Tata Chemicals Limited, a leading company in the Tata group of industries has joined hands with ICRISAT in entering the Sweet Sorghum Ethanol Research Consortium (SSERC).

The Hindu [© The Hindu]

India: IOL Chemicals set to enter Europe

IOL Chemicals and Pharmaceuticals Ltd, the Punjab-based manufacturer of industrial chemicals and drugs, is foraying into European market. It has embarked on an expansion with a capital expenditure about Rs 200 crore.

DNA [© Diligent Media Corporation Ltd.]

Brazil’s is the largest chemicals and materials industry in Latin America

The Brazilian chemicals and materials industry has earned its place in the spotlight by accounting for 3.1 percent of the country’s gross domestic product (GDP) in 2006.

BusinessWire [© Business Wire]

China National Chemical offers to buy Nufarm, an Australian firm

China National Chemical has offered 2.96 billion Australian dollars for Nufarm, an Australian maker of farm chemicals, inviting two U.S. buyout firms to join, said three people with knowledge of the situation.

The International Herald Tribune [© The International Herald Tribune]

India: Tata Chemicals' African safari hits green hurdle

Tata Chemicals’ plans to set up a soda ash plant, estimated to be in the region of $250 million, in joint venture with the Tanzanian government, has created a flutter in the African country as environmentalist are raising concern over the impact of the project.

The Economic Times [© Times Internet Limited]

China: REACH not easy for China

The European Union (EU)'s new chemical regulation is claimed by industry sources to severely impact the Chinese chemical industry. The new regulations, known as REACH, or Registration, Evaluation, Authorization and Restriction of Chemicals, were passed by the European Parliament and the Council of EU in December, 2006.

CHINAdaily.com [© China Daily Information Co]

'We are not anti-Asia' says EU chemicals body

There have been more calls this month to tighten regulations on pharmaceutical ingredient suppliers in the wake of the recent safety concerns emanating from low-cost regions such as China and India.  However, despite having recently established a dedicated 'China Taskforce', a major EU chemicals consortium insists that it has nothing against the region or its manufacturers.

In-PharmaTechnologist.com [© Decision News Media SAS]

India: Praj to set up ethanol plant for Tata Chemicals

Close on the heels of selling 7% stake to Tata Sons, ethanol technology and engineering company Praj Industries has bagged an order from Tata Chemicals to set up a fully integrated, commercial scale plant for ethanol production from sweet sorghum.

Business Line [© The Hindu Business Line]

India: Punjab Chemicals expects 17 mln usd in FY sales from Argentina unit

India's Punjab Chemicals & Crop Protection Ltd (PCCPL) expects sales of about 17 mln usd from Sintesis Quimica, the Argentina-based company it acquired late last year. The company is targeting sales of 35 mln usd from Sintesis by 2010.

Forbes.com [© Forbes.com LLC]

India: Chemical exports rise 23%

Despite the rupee appreciation causing a close to 12 per cent dip in exporter earning, chemical exports were up 23 per cent, though with incommensurate revenues, according to the Basic Chemicals, Pharmaceuticals and Cosmetics Export Promotion Council (Chemexcil).

Business Line [© The Hindu Business Line]

India: Rising rupee to hit chemical products export growth

The rising rupee will reduce the growth in export of chemicals and allied products to around five per cent from the current 10 per cent, according to the Chemicals and Allied Products Export Promotion Council. The worst-hit will be products such as books, glass and glassware, rubber products, paper and granites

Business Line [© The Hindu Business Line]

Singapore: SP Chemicals moves into production of styrene monomer

SP Chemicals is planning to produce styrene monomer in facilities in China to meet strong demand for raw chemical. The chemical is used to make polystyrene plastics, protective coatings, polyesters and resins.

MediaCorp News [© MCN International Pte Ltd]

India: Jubilant signs mega deal with Syngenta

Jubilant Organosys, an integrated pharmaceutical major and the country's largest custom research and manufacturing company, on Tuesday announced a multi-million dollar long-term agreement with Syngenta to supply pyridines.

Hindustan Times [© HT Media Ltd]

India: NMCE launches futures trade in menthol crystal

National Multi-Commodity Exchange (NMCE) on Monday introduced futures contract in menthol crystal. As per the approval of the regulator, Forward Markets Commission (FMC), NMCE has launched futures contracts in three series to begin with, which will expire on October 15, November 15 and December 15, respectively.

Business Line [© The Hindu Business Line]