SABIC Venturing into Oleochemicals with Lurgi

Saudi's SABIC (Saudi Basic Industries Corp) has announced that it will partner with German's Lurgi for technology provider in oleochemicals. The said arrangement is set to tapped into Lurgi's technology that will utilize renewable feedstocks with planned oleochemicals plant in Jubail, Saudi Arabia.

The renewable feedstock is targeted to produce 83,000 tonnes/year of distilled natural alcohols by 2013. It is likely that the plant will be a trial set-up utilizng Lurgi's new technology.

Iran Expected to Get New Investors for Petrochemical

Iran's NIPC is looking to get new foreign investors for petrochemical projects in Iran. The company has set up a firm in the United Kingdom to attract foreign investors to finance three big projects with an estimated value of $2.2 billion as part of Tehran's aim at becoming the number one producer of petrochemical products and materials in the region in terms of value.

Turkey had initially planned to assist Iran with the construction of two petrochemical plants in southern and western Iran amidst US sanction on Iran.

China's Coal to Olefins (CTO) Utilize New Technology

China will be using new technologies, of which yet to be informed for its $10 billion coal-to-olefins (CTO) project between China's Shenhua Group, the largest coal mining company in China, and US-based Dow Chemical.

China is the world's leading producer of goal, most of which is for nonpower related industrial gases with projection of increase almost 10% annually.

The CTO and its downstream derivatives are expected to utilize integration for production of methanol, olefins, acetylene-carbide polyvinyl chloride (PVC), ammonia/urea and aromatics.

New US$40 Million Gasco Plant Awarded to Siemens in Abu Dhabi

A US$40 Million Contract for Gasco plant in Abu Dhabi was awarded to Siemens Energy to engineer and supply an integrated power solution for natural gas liquids (NGL) fractionation plant. The plant which will be set-up by Abu Dhabi Gas Industries (GASCO).

New Dispersions Plant by BASF in South China

BASF has announced new dispersions plant in Southern China of Huizhou with 100 kmta annual capacity producing XSB dispersions and acrylic dispersions. The production will be getting feedstock from local China with customers mostly in China market as part of its verbund concept. The plant which will be up by 2012 will serve mostly paper industry and industries such as coatings, adhesives and packaging.

Application of XSB dispersion.

India 2010 Outlook: World Fastest Growing Economy Exceeding China by 2013

The global market changes constantly and by 2013, China will no longer hold the throne of the fastest growing market. China is expected to grow by 9% in 2012 down to 8% in 2015 while India is expected to have growth rate by 9% in 2013 up to 9.5% in 2015.

Much of the growth is expected to come from its demographic since India has one of the lowest median ages among the major economies with high percentage of young working age population which can contribute to the country's growth.

This is coupled to the fact that globalisation permits high opportunities for job placement either inside or outside the country which can increase the domestic savings.

Iranian to Launch New Bushehr Nuclear Plant

Iran will be launching its first Bushehr nuclear power plant after completion of the plant's main tests and inspections. The Bushehr nuclear power plant project was started by German firm Siemens in the 1970s, and was then handed over to Russia in 1995.