Page 3 - Petrochemicals Industry

TCG group to set up petrochem project of international scale in Tamil Nadu

TCG group will set up a petrochemicals project of international scale at Cuddalore in Tamil Nadu, a company spokesperson said on Friday.

Medical oxygen from Honeywell technology has saved 120,000 lives in India

Patented technology of US firm, which tied up with DRDO last month, to save 66,500 more people in July-August

GAIL split plan scrapped, company to monetise pipelines instead

The company will monetise some of its pipelines by selling a minority stake through InvIT

Indian Oil Corp to invest Rs 24,000 crore in Gujarat petchem project

The LuPech project will produce import substitutes like Lube Oil Base Stock (LOBS) and Polypropylene

IOC to invest Rs 24,000 cr in Gujarat refinery expansion, petchem project

State-owned Indian Oil Corporation (IOC) on Monday said it has signed up an investment pact for adding petrochemical and lube plants to its previously announced plan to expand crude oil processing capacity at its Koyali refinery at Vadodara in Gujarat. Expanding refining capacity by 4.3 million tonnes per annum to 18 million tonnes and adding plants to produce 500,000 tonnes per annum of polypropylene and 2,35,000 tonnes of lube oil base stock at the site would see total investment of about Rs 24,000 crore. "Chief Minister of Gujarat Vijaybhai Rupani and Union Minister of Petroleum and Natural Gas & Steel Dharmendra Pradhan today presided over an MOU signing ceremony for 'Investment Promotion' between the Government of Gujarat and IndianOil for setting up a Petrochemical and Lube Integration (LuPech) Project and Acrylics / Oxo Alcohol Project along with other infrastructure projects at Gujarat Refinery," a company statement said. The LuPech project will produce import substitutes .

Better petchem prospects, low-cost Jio smartphone launch push RIL stock

Shares of Reliance Industries are up more than 9 per cent over two days to Rs 2,160.45

Indian Oil swings into black with record Rs 21,000-cr profit in FY21

Firm attributes remarkable to inventory gains caused by fluctuating global oil prices and rising sales of high-margin petrochemical products

Laxmi Organic IPO subscribed 6 times on second day of subscription

The initial public offer of speciality chemicals manufacturer Laxmi Organic Industries Limited was subscribed 6.05 times on the second day of subscription on Tuesday. The issue received bids for 19,69,52,680 shares against 3,25,58,138 shares on offer, as per data available with the NSE. The category meant for qualified institutional buyers (QIBs) was subscribed 1.15 times, non institutional investors 2.48 times and retail individual investors(RIIs) 10.38 times. The initial public offer (IPO) aggregating up to Rs 600 crore comprises a fresh issue of up to Rs 300 crore and an offer for sale of up to Rs 300 crore. The offer is in a price range of Rs 129-130 per share. Laxmi Organics Industries on Friday garnered Rs 180 crore from anchor investors. Net proceeds from the issue will be utilised for setting up a manufacturing facility for fluorospecialty chemicals, working capital requirements, purchase of plant and machinery and upgrading existing units. In addition, funds would be us

Anupam Rasayan IPO subscribed 3.64 times on second day of subscription

The firm is in the speciality chemicals space

Shares of Reliance Industries plunge 6% on disclosure concerns

The country's most-valuable firm reported record quarterly profit for the quarter ended Dec 31, but didn't disclose gross refining margins, a key metric to analyse its oil and petrochemicals vertical

L&T subsidiary wins biggest EPCC contract of over Rs 7,000 crore

The order, classified as large, has a size between Rs 2,500-5,000 crore, informed the company in its release

Mukesh Ambani among world leaders to discuss post-Covid economic recovery

Reliance head Mukesh Ambani and Indian Oil Corp Chairman Shrikant Vaidya will join over 30 world leaders from oil, gas and petrochemical industries to discuss post-Covid-19 economic recovery

IOC to invest Rs 17,825 cr in Gujarat refinery expansion, petchem project

IOCL net profit fell 47% annually to Rs 1,910.8 crore in the quarter ended June 30, mainly due to inventory losses stemming from fluctuations in global oil prices

IOC bets big on petrochemicals, forward integration into textile biz

Petrochemical presents a big opportunity in India as the per capita consumption still remains very low

Reliance's Jamnagar refinery cuts crude processing by 24% as demand slumps

RIL's 35.2 million tonnes a year SEZ refinery processed 2.51 million tonnes of crude oil into fuel in March, a drop of 24 per cent year-on-year

Al-Kharafi to invest Rs 49,000 cr to set up petroleum refinery in TN

Chief Minister Edappadi K Palaniswami said that Al-Kharafi is expected to set up a petroleum refinery in compliance with BS-VI emission norms

ONGC may take Opal out of SEZ as domestic demand for petrochemicals grows

A DTA setup enables a company to set up manufacturing units that cater to the domestic market, while an SEZ unit is meant only for exports

Policy on petroleum and chemical zone likely to come in a new avatar

The four PCPIRs are expected to give employment to around 3.4 million people

Why RIL is upbeat about petrochemicals even as it moves out of auto fuels

The company's oil-to-chemical strategy assumes significance in the face of an electric vehicle-dominated future

IndiaRF to invest $156 million in Archean Group's marine chemicals business

Archean Chemical Industries Private Limited is one of the leading the largest producer and exporter of industrial salt and bromine in India.