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Chexpress - September 17, 2014




North America



Settlement



Occidental Chemical Corp. has agreed to pay New Jersey $190 million as part of a settlement to clean up the polluted Passaic River. The agreement is subject to approval by New Jersey Superior Court. Occidental Chemical bought a Newark factory once owned by Shamrock Chemicals Co., which dumped cancer-causing dioxin into the river during the manufacturing of the Vietnam War-era defoliant Agent Orange. Several companies associated with the former Diamond Shamrock site were named in the lawsuit aimed at cleaning up the river, with Occidental being the last to settle.

Expansion



The Oilfield Technology Group (OTG) of Momentive Specialty Chemicals Inc. has expanded its triazine production plant in Edmonton, Alberta, Canada. The investment has increased raw and finished materials storage, modified the plant to provide increased capacity and redundancy, enabled flammable triazine production capability and dedication storage, and optimized truck loading for increased production flexibility and decreased loading times.

Fertilizer Plant



CHS Inc. will construct a fertilizer manufacturing plant in Spiritwood, North Dakota. The approximately $3 billion plant is intended to be fully operational in the first half of 2018. When complete, the plant will employ 160-180 people. The plant will produce more than 2,400 tons of ammonia daily, which will be further converted to urea, UAN and Diesel Exhaust Fuel (DEF). The majority of the nitrogen products from the plant will server farmer-owned cooperatives and independent farm supply retailers within a 200-mile radius of the plant.

Acquisition



Boardwalk Pipeline Partners has entered into a definitive agreement with Chevron Pipe Line Company to acquire Chevron Petrochemical Pipeline LLC, which owns the Evangeline ethylene pipeline system. The $295 million deal is subject to customary adjustments and closing conditions, but is expected to close in the fourth quarter of 2014. After the acquisition, Evangeline will be operated by Boardwalk Louisiana Midstream (BLM), a subsidiary of Boardwalk. The Evangeline system is a 176-mile interstate pipeline capable of transporting approximately 2.6 billion pounds of ethylene per year between Port Neches, Texas and Baton Rouge, Louisiana.

World



Restart



Mitsui Chemicals Inc. has restarted its 612,000 ton/year naphtha cracker at its Ichihara, Japan plant. The restart followed repair work on an unspecified problem.

Petrochemical Project



PPT has joined with Saudi Aramco to submit a proposal to the Vietnamese government to build a $22 billion refinery and petrochemical complex in Vietnam. PPT and Aramco will each own 40 percent of the project with the Vietnamese government holding the remaining 20 percent. The project includes an olefins and aromatic petrochemical plant with a combined capacity of 5 million tons/year. It is expected to take six to seven years before the complex will be fully operational.

Expansion



PetroRabigh’s founding shareholders have formally invited banks to provide financing for the $8.5 billion expansion of its petrochemicals complex in Saudi Arabia. PetroRabigh is a joint venture between Saudi Aramco and Sumitomo Chemical. The requests for proposals were issued to local and international banks, with financing of the expansion to be split between conventional loans and sharia-compliant facilities. The exists plant can produce 18 million tons of refined projects and 2.4 million tons of petrochemical products. The new facility – Rabigh II – is to be an expansion of the existing petrochemical plant, increasing output and introducing higher-margin products.




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