Page 47 - Plastics News April 2018

Business news

Hanwha Chemical keen to invest in Odisha PCPIR

eoul-based Hanwha Chemical Corporation, a had solicited Korean investments for the PCPIR. He said,
Spetrochemical company specialising in plastic and the PCPIR at Paradip offers multiple strategic advantages
inorganic chemical products, has evinced interest to put up such as easy availability of raw material for chemical and
units at the PCPIR (Petroleum, Chemicals & Petrochemicals petrochemical downstream industries, sufficient port
Investment Region) complex in Odisha. The South Korean capacity to import feedstock, industry-ready labour pool,
company is yet to make a formal proposal to the state competitive power tariff, water availability. Notably,
government. Officials from Hanwha Chemical recently Chemicals, Plastics & Petrochemicals is also one of the
did a recce of the PCPIR site in Odisha near Paradip. The focus sectors in the Odisha Industrial Development Plan.
site visit was facilitated by officers from Odisha Industrial
Infrastructure Development Corporation (Idco), the state Iraq Seeks investors to build two
run agency for land acquisition and industrial infrastructure
southern refineries

AGHDAD- Iraq has invited foreign companies and
Binvestors to bid for the construction and operation
of two new refineries in southern Iraq. One refinery is
to be built in Wasit province with a production capacity
of 100,000 barrels per day (bpd), and the other in
Diwaniyah province with a capacity of 70,000 bpd, the
oil ministry said in two statements. Documents for the
bidding process for both refineries will be available
until April 29 and the bidding will close on June 14.
development. “The company has asked for 200 acres of Also in another happennings the Iraqi Oil Ministry
land within the PCPIR zone. Their investment would be had announced the opening of two projects that will
a big boost as it would spur other companies to come enhance its oil export capacity in the southern province
and invest”, said a state government official. Founded in of Basra. The ministry said in a statement that Oil
1965, Hanwha Chemical Corporation (known as Hanwha Minister, Jabbar Al-Luaibi, inaugurated a new pipeline
Petrochemical Company then) pioneered the production of with a capacity of 1.5 million barrels per day which will
PVC (Polyvinyl Chloride) in Korea. Its products include low carry crude oil from Faw oil warehouses to export ports
density polyethylene, linear low density polyethylene, high
density polyethylene, ethylene vinyl acetate, and wire and
cable compounds. The company also provides PVC resins,
paste resins, plasticizers, oxo alcohol, and phthalic/maleic
anhydride for applications in industrial materials, such as
artificial leather, pipes, flooring materials, and paints,
as well as household items, including various containers,
packaging films, toys, fibres, wallpapers, and others.
In addition, it offers caustic soda, chlorine, ethylene
dichloride, vinyl chloride monomers, epichlorohydrin, in Ras Al-Bisha 2 in the province of Basra.Al-Luaibi also
hydrochloric acid, and sodium hypochlorite for use in solar inaugurated a water injection project which extends
cells, detergents, and food production, as well as fibre, from the main water pumping station in Karmat Ali to
metal, and paper manufacturing. Hanwha’s interest follows the northern Rumaila field in the governorate.Earlier
the roadshow by the Odisha government at the India-Korea this month, the Iraqi government approved a plan to
Business summit in February this year. At the conclave, increase crude oil production to 6.5 million barrels
Odisha’s principal secretary (industries) Sanjeev Chopra per day.

47 April 2018 Plastics News