ASIA NEWS EVA RESINS
DuPont’s first EVA facility set up in China
DuPont has announced that production for ethylene vinyl acetate (EVA) resins has begun at its joint venture, Beijing Hua Mei Polymer Company Ltd in Beijing. The facility is DuPont’s first operation to make EVA in China. “With local production, we have strengthened DuPont’s position in the world’s fastest growing EVA market and can better support our customers as they grow and expand to specialty products for highvalue applications,” said William J Harvey, President, DuPont Packaging & Industrial Polymers. DuPont will market the EVA products under the trademark of Elvax. The new facility follows the same global standard operating procedures and quality control processes as the products manufactured in other DuPont locations to ensure products meet the same high quality and performance specifications. The joint venture will supply a broad range of high-quality specialty EVA products and will serve market segments such as packaging, adhesives, wire and cable, footwear, renewable energy and electronics. EMERGING OPPORTUNITIES
Thai olefin major PTT Chemical exploring to invest in China In a bid to exploit rapid demand growth in China, Thailand’s PTT Chemical is seeking an opportunity to invest in new chemical production in the country. The company, South East Asia’s largest olefin maker, views China as its largest export market, and
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Modern Plastics & Polymers | October 2010
INVESTMENT
ENVIRONMENT ISSUES
A Chinese consortium is in a deal with National Iranian Petrochemical Company (NIPC) to invest $ 1 billion in petrochemical projects in Iran. It is the first time Chinese companies will participate in the construction or development of petrochemical projects there. Negotiations are also underway with several other countries for the development of Iran’s petrochemical industry. NIPC is also negotiating with Pektim Company (Turkey), and Yurukum Company (Singapore) about the construction of two methanol blocks, and with a company from Oman concerning the construction of urea and ammonia blocks in Hormuz. The company is in talks with Russia’s Sibour for building three petrochemical plants. Around 61 petrochemical projects
Taiwan’s Minister of Economic Affairs has stated that though the planned Kuokuang petrochemical plant has met with opposition on environmental concerns, its construction seems imperative to ensure the competitiveness of Taiwan’s petrochemical
Chinese consortium to invest $ 1 billion in petrochemical projects in Iran
are to be carried out in Iran during the Fifth National Development Plan, raising the country’s petrochemical output to 100 million tonne per annum. The construction programme requires a total of $ 43 billion in investment. Contracts have already been signed for 28 of these projects. wishes to join the ranks of the major global petrochem makers who have a presence in China.
Kuokuang complex will ensure competitiveness of Taiwan’s petrochemical sector
sector. The Minister, however, acknowledged, and accepted that the environmental concerns are legitimate. Hence, the government will need to strengthen its role in strictly monitoring the sector to put the minds of residents living near the complexes at ease, while maintaining an appropriate scale of production. The Kuokuang complex, which has faced strong resistance, is to replace the fifth naphtha complex operated by state-run CPC Corporation that was committed to relocation by the government 20 years ago. The Minister contended that the Kuokuang project is a vital investment for Taiwan’s economy, as it cannot enjoy persistent growth without a sound petrochemical industry. Without the complex, midstream and downstream producers would be likely to leave Taiwan, leaving the local industry out of balance. The CPC Corp chain would be weakened, reducing the competition faced by the Formosa Plastics Group. However, PTT’s investment plans will depend on market demand with a focus on the lifestyle of its biggest markets – ASEAN and China. The new criteria for investment will require the adaptation of human management, as a novel way of thinking is needed to serve the new policy of the company. Its new investment strategy allows various options, from joint ventures, mergers and acquisitions to greenfield investment.