Page 17 - Plastics News May 2021

CompAny news

IOCL selects Technip for its PX / Aramco and SABIC realign

PTA plant in Orissa petrochemical and fuel activities

echnip Energies (PARIS:TE) has been awarded a r amco and SA BIC
Tlarge engineering, procurement, construction and Ahave announced their
commissioning (EPCC) contract by Indian Oil Corp. Ltd intention to transfer the
(IOCL) for its Paraxylene (PX) and purified terephthalic mark e t in g a n d sa le s
acid (PTA) complex projectat Paradip, Orissa, on the East responsibility for a number
Coast of India. For Technip Energies, a ‘large’ contract is of Aramco petrochemicals
defined as between €250 million and €500 million. This and polymers products to
EPCC contract covers the delivery of a new 1.2 million SABIC, and the offtake and
tpy PTA plant and associated facilities. PTA is a major resale responsibility of a
raw material used to manufacture polyester fibres, PET number of SABIC products
bottles and polyester film used in packaging applications. to Aramco Trading Company
Marco Villa, Chief Operating Officer of Technip Energies (ATC). The effect of these changes, planned to be
commented: “We are pleased to be awarded another implemented on a phased basis during 2021, subject to
prestigious contract by Indian Oil Corp. Ltd. We look the necessary consents being obtained, will focus SABIC
forward to starting this significant project which
illustrates our commitment to India – a core market for on petrochemicals products and ATC on fuel products.
us. It also significantly consolidates our leading position This is a significant step in aligning the Aramco and
for executing complex petrochemical projects.” Paradip SABIC strategies, following Aramco’s acquisition of a
Refinery is the most modern refinery in India. Its products 70% stake in SABIC in June 2020. Aramco and SABIC
meet the energy demands of the domestic market and are will continue to review options for further global
partly exported. With the aim to create a value chain, marketing and sales transfers across product-producing
Paradip Refinery has ventured into petrochemicals with companies within the Aramco group portfolio. The
the production of polypropylene (PP), mono ethylene changes will drive further operational efficiencies,
glycol (MEG), and is now going into PX and PTA production. strengthen the brands of both companies and their
combined products and services offering, and help
to maintain competitiveness. Customers will benefit
from improved product range and availability, ordering
and points of sale, supply chain, shipping reliability,
and after-market services and solutions. Ibrahim
Al-Buainain, Aramco Trading Co. President and CEO,
said: “The transfers reflect our shared commitment
to capitalise on the complementary nature of Aramco
and SABIC’s respective product portfolios as we
strive to create added value for our customers and
shareholders. “Together, Aramco Trading Co. and SABIC
are focused on providing a world-class products and
The availability of PTA at Paradip will provide a boost to services offering. These changes will place us in an even
polyester manufacturing facilities in the vicinity. Indian stronger position to deliver market-leading innovation
Oil has set up a world class 700 KTA Polypropylene Plant and value.”Abdulrahman Al-Fageeh, SABIC Executive
based on standard propylene from the Indmax (high Vice President - Petrochemicals, said: “By leveraging
severity FCC) unit at a cost of Rs. 3150 crore at Paradip, and optimising our complementary combined product
Odisha to support plastic industry of Eastern Region.
Commissioned in June 2019, Paradip PP plant is designed portfolios we will create a one-stop shop for the benefit
to produce Homopolymer grades for Injection Moulding, of our customers globally, including in strategically
Raffia, Biaxially Oriented PP, TQ Film, Fiber & Filament important geographies, especially across Asia.
and Extrusion Coating etc.

17 May 2021 Plastics News