Air Separation Project
Samsung Engineering was awarded a $300 million project for an Air Separation Unit from National Industrial Gases Company (NIGC), the subsidiary of Saudi Basic Industries Corporation (SABIC). Located in Al-Jubail, Saudi Arabia, the air separation plant would produce 3,500 tons/day of gaseous oxygen, 3,600 tons/day of nitrogen and 150 tons/day of argon from compressed air through a cryogenic separation process. Samsung Engineering will execute the licensing, engineering, procurement and construction of the plant that is scheduled to be completed in 2011.
NewMarket Corp.ís Afton Chemical Corp. unit is investing in an Asia Pacific manufacturing facility to serve its customers in the region. The new plant will improve security of supply and provide short lead times. The Afton site will be located on Jurong Island, Singapore and will be operated by Chemical Specialties Singapore Ltd.
The Nitratos del Peru consortium of Peruís Brescia group and Chilean company Sigdo Koppers SA plans to start construction on a $650 million petrochemical project in southern Peru in the first quarter of 2010. The first plant will product ammonium nitrate.
LG Chemical Ltd. has announced plans to join with China National Offshore Oil Corporation (CNOOC) in building a 300,000 ton/year Acrylonitrile-Butadiene-Styrene (ABS) plant in South China. The ABS project will be built under a joint venture between the two companies on a 50-50 share holding basis. Construction will begin in the first half of 2010. The total investment for the project is estimated at $370 million. The first phase of the project is expected to start full operation in 2011 with an initial capacity of 150,000 tons, with the second phase scheduled for completion during 2013.
Sinochem Corp. has confirmed it is in early stage discussions with Nufarm Ltd. about a potential takeover. Sinochem said these discussions were at a preliminary stage and incomplete and added that there was absolutely no certainty that matters would progress. Further announcements will only be made if there are material developments.
Sinopecís Nanshan Petrochemical plant, which was planned for the Nansha District of Guangdong Province, will be relocated due to fear of possible pollution. The decision to relocate was made after careful consideration. The plantís new location has not been announced but has already been selected by Sinopec.
The Dow Chemical Co. and Petroliam Nasional Berhad have reached an agreement for Dowís Union Carbide Corp. subsidiary to sell its entire shares of ownership in the OPTIMAL Group of Companies to PETRONAS for $660 million. PETRONAS will fund this acquisition through internally generated funds. The transition is subject to customary conditions and approvals, but is expected to close by the end of the third quarter of 2009.