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Chexpress - July 23, 2014




North America



Cogeneration power plant



Mexichem expects to start operating a $650 million cogeneration power plant for Pemex in the first half of 2018. Mexichem won a contract for the Cogeneration Cactus plant in partnership with Enesa Energia. The plant will have preliminary capacity to generate 530 megawatts of power.

Methanol manufacturing facility



Yuhuang Chemical Inc. is opening a methanol manufacturing facility in Louisiana. The $1.85 billion project represents the first major foreign direct investment by a Chinese company in Louisiana. The first phase of construction will begin in 2016, with operations starting by 2018. After the first plant is completed, a second methanol plant will be built to reach an annual capacity of 3 million metric tons of methanol. A third phase will include a methanol derivatives plant that will produce intermediate chemicals.

Acquisition



Albemarle is buying Rockwood Holdings Inc. in a cash-and-stock deal valued at about $6.2 billion. The boards of both companies have approved the deal, which is targeted to close in the first quarter of 2015. It still needs shareholder approval. The combined company would operate under the Albemarle name.

World



Contract



CB&I has been awarded additional contracts by Oman Oil Refineries and Petroleum Industries Company (Orpic) for the Liwa Plastics Projet in Oman. CB&I’s scope of work includes the license and engineering design of three units in addition to the previous award for its ethylene technology and front end engineering and design (FEED) services. CB&I will provide the technology for a new 90,000 metric ton/year high conversion MTBE unit, the technology for a 41,000 metric ton/year butane-1 recovery unit, and the gas processing technology for a new 18 million standard cubic meter/day natural gas liquids extraction plant.

Acquisition



CCP Composites and Polynt Group are planning to combine to create an integrated composite resins producer that will rank number one in Europe and number three globally. Polynt Group has made a firm offer for CCP Composites, which will be presented to the employee representatives concerned as part of the required information and consultation processes. Polynt Group’s offer includes clear undertakings to continue operations sustainably and safeguard existing jobs and employee benefits. The proposed transaction is subject to approval by the relevant antitrust authorities.

Fumes



Fumes from a chemical leak on a ship at the Laem Chabang industrial seaport in Thailand have sickened 139 people, including schoolchildren. Those exposed to the fumes had difficulty breathing, nausea and headaches, and were treated at hospitals. The hazardous flammable liquids leaked when a container fell onto the liquid tank on the Hong Kong ship that was anchored in the port.

Joint venture



Halliburton is entering its first joint venture in China with an affiliate of SPT Energy Group. The venture will focus on hydraulic fracturing and production enhancement services in Xinjiang, China. The companies have worked together for seven years.




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