is a global distribution & trading company in plastic raw materials with offices and operations in Europe, Middle East, Africa and Asia. The network structure enables each individual branch to operate in line with the latest short-term trends within world and regional markets.
NCT's strategy is to generate added value to the chain between producers and end-users of commodity polymers. NCT is an ISO Certified Company who trades in polyolefin’s, polystyrene, pet, pvc and other plastic raw materials.
PIC to invest US$10 bln in 4 years to expand domestic and overseas operations
on 04-08-2010 07:53
source: Plastemart (4/8)
Kuwait’s Petrochemical Industries Co. (PIC) plans to invest US$10 bln over the next four years in domestic and overseas projects in a bid to expand operations. Construction of its’ third mixed-feed olefins facility with 1.4 million ton ethylene capacity is being planned at approx US$5 bln, as per Bloomberg. The facility will have downstream facilities such as ethylene-glycol, polyethylene, polypropylene, depending on the mix of feed and is expected to be operational in 2016. PIC’s share in a proposed US$9 bln refinery and petrochemical complex in China’s Guangdong province is also part of the company’s projects. The project, in which PIC partners China Petroleum & Chemical Corp, awaits approval from the Chinese government by the end of the year, and is expected to be operational in 2015. PIC is mulling downstream operations from the paraxylene, for which it is conducting a preliminary study. The company is also seeking growth in areas where there would be opportunity for feedstock, possibly in Yemen, Algeria, Libya or Asia.
Ineos Group has entered into a binding agreement for the sale of its Global Films business to Bilcare AG, one of the world's leading providers of research led packaging to the global pharmaceuticals industry, for approximately €100 million. The deal comprises the business, assets and personnel related to INEOS' Films operations located in North America, Europe, and Asia. The agreement brings together complimentary capabilities and synergies of two leading global businesses. INEOS Films is a leader in the Pharma, Specialties, Cards and Packaging Films business; Bilcare is the foremost solution provider of innovative packaging to the global pharmaceuticals industry for their brand safety and growth. Iain Hogan, CEO INEOS Films, warmly welcomed the announcement. "I am very excited by the potential created by the combination of these two companies. Bringing together Bilcare's research and development focus with our own broad production and application knowledge provides a very strong strategic fit. "Whilst performing well, the INEOS Films business is no longer core to the INEOS Group as the company focuses its attention on its large-scale petrochemicals businesses. This agreement with Bilcare will put INEOS Films assets and people at the centre of a new business with the innovation and drive necessary for it to grow and further develop, which is good for the business and its customers globally."
Mega overseas proposed petrochem JV between GAIL and RIL takes a back seat
on 03-08-2010 10:04
source: Plastemart (2/8)
GAIL India’s plan to set up a mega gas-based petrochemical overseas plant in joint venture with Reliance Industries (RIL) has taken a back seat as the state-run gas major has decided to double capacity at its Pata petrochemical plant to 900,000 tpa with an investment outlay of Rs 8,200 crore. The expansion is scheduled to take 42 months for completion, but GAIL will venture to commission the unit in just 3 years. Though GAIL and RIL had short-listed a few countries, they have deferred their mega JV project in view of the global situation. Qatar, Iran, Algeria, Nigeria and Russia were shortlisted for exploring the possibility of setting up a 1.9 mln tons plant.
Asian PVC sellers report higher sale prices, better demand for Aug
In Asia, PVC prices continued to firm up over the past week, with major Asian producers claiming that they have already concluded their August business with increases from July at levels similar to their initial offers. Offers for domestic material have also been gaining ground throughout the region owing to higher import prices and reduced availability from some sources. Higher electricity prices inside China have pressured PVC producers within the country to maintain lower operating rates, thereby encouraging Chinese buyers to source more of their needs from the import market. Higher PVC prices from American producers have also helped push up demand for Asian origins as American cargoes have lost much of their price competitiveness when compared with offers for Asian material.Major Asian producers report that they have concluded their August business to the Chinese market at prices standing $10-40/ton higher than their July done deal levels. Producers reported that their August allocations to China were regular and that they had no difficulties selling out their allocations to the country. Producers added that they are expecting to see higher prices continue into the next month as they expect similar supply/demand dynamics to be present for September. Higher import prices along with stronger demand have also made an impact on China’s domestic market, with producers and distributors beginning the week with increases of CNY50-100/ton ($7-15/ton) on their offers to the local market.
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