Page 49 - Plastics News October 2016
P. 49
Business NEWS
Mitsubishi Rayon and Fiberline Rosneft and Pertamina develop
in a JV for cost-effective carbon refining and petrochemical
fiber composites cooperation
Mitsubishi Rayon Co., Ltd. (a subsidiary of Mitsubishi Rosneft, a Russian oil company and Pertamina
Chemical Holdings) and Fiberline Composites A/S have signed, in Jakarta (Indonesia), a number of
have recently announced the formation of a joint venture documents reflecting a concrete cooperation between
company for manufacturing and distributing carbon fiber the companies.
composite laminates for wind turbine blades (hereinafter,
“composite laminates”). Share holding will be in the
following ratio- Fiberline: 51%; MRC: 49% MRC will supply
high-performance large tow carbon fiber produced at its Rosneft and Pertamina signed a GRR Tuban JV Agreement
Otake Production Center to the joint venture based in (JVA) that serves as an underlying agreement of creation
Denmark. The joint venture will leverage the molding of a Joint Venture Company (JVC) that would implement
and processing technologies of Fiberline, a composite the project for the construction of the Tuban refining
pultrusion manufacturer, to enable light-weight, price and petrochemical complex llocated in the eastern part
competitive composite laminates supply to the wind of Java (Indonesia). The JVA specifies the allocation of
turbine blade market. In recent years, the size of wind equity stakes between JV participants (Rosneft – 45%,
turbine blades have become longer as the widespread Pertamina – 55%, respectively), JV management and
installation of off-shore wind power systems and the governance, feedstock, marketing dan offtake, funding
increasing importance of low wind site development principles, HR, standard clauses and further steps for
demand more efficient power generation. Such large- implementation. The parties are currently developing
sized wind turbine blades require carbon fibers replacing a bankable feasibility study (BFS) of the project whilst
conventional glass fibers due to their rigidity and light- the final investment decision (FID) on the project will
weight properties. be made upon the results of the BFS, basic engineering
design (BED) and front end engineering design (FEED).
In particular, composite laminates made in pultrusion
processes are superior in composite performance and The design capacity of primary processing at the Tuban
process speed compared to other carbon fiber composite complex is 15 million MTA. It will run on imported
materials, this being reflected in the full scale adoption medium and heavy grades of sour crude. The project
of these by the world’s leading turbine manufacturer. provides for the construction of a large fuel oil
Consequently pultruded laminates have become the catalytic cracker and a petrochemical complex. The
industry standard. MRC will seek to expand its share in complex is assumed to be able to accommodate VLCC
the carbon fibers wind turbine market through this joint supertankers with a deadweight of up to 300,000 tons.
venture. The establishment of the JV marks a new phase in the
development of a modern refining and petrochemical
complex in Indonesia.
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