Page 47 - Plastics News May 2019

BUSINESS NEWS

Evonik overhauling its nylon India's imported crude oil needs
business risen to 83 pct in FY19 says a

report
vonik is investing $447.8 million in nylon production
Ein Marl, Germany, while discontinuing the production
ndia's rising oil consumption will support its
DQG VDOH RI SRO\SKWKDODPLGH LQ :LWWHQ *HUPDQ\ Iinvestments in refining capacity additions and
“Reorganizing our polyamide business will concentrate our
production and innovative strengths on specialty materials upstream production, but imports will keep growing
for promising applications in attractive markets such as amid stagnant production, Moody's Investors Service
said Monday. The country's dependence on imported
crude oil to meet its needs has risen to 83.7 per cent
LQ ÀVFDO \HDU IURP SHU FHQW LQ
Import dependence was 80.6 per cent in 2015-16.In a
report on regulatory and security policies in emerging
markets, Moody's said all petroleum products in India
are now sold at prices linked to international or
regional market rates, which has opened up the fuel
retail market. But national oil companies - Indian Oil
Corp (IOC), Hindustan Petroleum Corp Ltd (HPCL)
and Bharat Petroleum Corp Ltd (BPCL) continue to
lightweight construction, additive manufacturing, and enjoy over 90 per cent market share in petroleum
composites. This, in turn, will give us a solid foundation SURGXFW GLVWULEXWLRQ LW VDLG 7KH WKUHH RLO UHÀQLQJ DQG
for continuous growth,” says Dr. Ralf Düssel, the head of marketing national oil companies (NOCs) control 57,944
the High Performance Polymers Business Line at Evonik. petrol pumps out of a total of 64,624 petrol pumps in
“For our customers, the move will mean a more intense the country. India consumed 211.6 million tonnes of
focus on developing sophisticated specialty solutions.” petroleum products in 2018-19, up from 206.2 million
Evonik’s roughly €400 million investment in Germany will tonnes in the previous year. Fuel consumption was
increase the company’s overall capacity for PA 12 by over 184.7 million tonnes in 2015-16. Though the country
50 percent. The project will complement existing PA 12
production at the Marl Chemical Park in the state of North
5KLQH :HVWSKDOLD ZLWK DGGLWLRQDO SODQWV IRU WKH SRO\PHU
and its precursors. The facility complex is scheduled to
JR RQ VWUHDP LQ WKH ÀUVW KDOI RI $W WKH VDPH WLPH
Evonik will also be expanding production of transparent
polyamides in Marl. Production expansion is slated for
FRPSOHWLRQ LQ WKH ÀUVW TXDUWHU RI 7KH FKDQJH
will double the specialty chemicals company’s overall
capacity for the high-performance material.In another
step in the process of reorganizing its polyamide business,
Evonik will be discontinuing the production and sale of
is short in producing crude oil, which is turned into
SRO\SKWKDODPLGH DW LWV :LWWHQ VLWH E\ WKH HQG RI WKH ÀUVW
quarter of 2020. Evonik plans to exit the polyphthalamide IXHO DW UHÀQHULHV LW PDQXIDFWXUHV VXUSOXV SHWUROHXP
33$ EXVLQHVV DW LWV :LWWHQ *HUPDQ\ SURGXFWLRQ IDFLOLW\ products. In 2018-19, production of petroleum products
as the company’s polyamide unit narrows its focus on high- was 262.4 million tonnes. Also, two upstream national
performance materials. Evonik will transfer employees oil companies, Oil and Natural Gas Corp (ONGC) and
from the PPA plant to its Marl site, where they will work Oil India Ltd (OIL) produce about 70 per cent of India's
at the new PA 12 production plant. oil and 80 per cent of its natural gas.

49
47 M a y 2 01 9 Plastics News