Chemical

House panel on chemicals and fertilisers on 4-day visit to Andaman

A team of the Parliamentary Standing Committee on Chemicals and Fertilisers arrived here on Tuesday on a four-day visit to Andaman and Nicobar Islands, officials said. The team is headed by Lok Sabha MP CN Annadurai and comprises Arun Kumar Sagar, Sanjeev Kumar Singari, Indra Hang Subba, GC Chandrashekhar, and Vijay Pal Singh Tomar, among others. After their arrival, the team members visited the National Memorial Cellular Jail and paid tributes to freedom fighters. Later, they went to Swaraj Dweep (formerly Havelock Island) and held discussions with representatives of the Department of Chemicals and Petrochemicals on the safe usage of insecticides and pesticides in the archipelago. On Wednesday, the panel members will hold meetings with officials of the Department of Fertilisers, Madras Fertiliser Limited (MFL) and Fertilisers and Chemicals Travancore Limited (FACT) on the availability and distribution of fertilisers in the Union territory. They will also hold discussions with ...

Deepak Nitrite's net profit declines by 36% to Rs 150 crore in June quarter

Chemical manufacturing company Deepak Nitrite on Thursday reported a 36.1 per cent decline in consolidated net profit at Rs 149.9 crore for the June quarter. The company's net profit stood at Rs 234.62 crore during the corresponding period of the previous fiscal, Deepak Nitrite said in a regulatory filing. Revenue from operations fell 14.07 per cent in the first quarter of this fiscal to Rs 1,768.34 crore compared to Rs 2,057.99 crore in the same period a year ago. On June 2, 2022, the company had said that an incident of fire occurred at one of its manufacturing sites at Nandesari, Gujarat. Property, equipment, and inventory worth crores of rupees were damaged and business was hit, resulting in overall damage of Rs 47.20 crore. The company received part payment from insurance companies towards claim against loss of assets and inventories aggregating Rs 27.09 crore, which has been adjusted against the claims, as per the filing. Out of the Rs 27.09 crore, Rs 11.23 crore was receiv

India's core sector output rises to five-month high of 8.2% in June: Govt

The government revised the final growth rate of the index of eight core industries for March 2023 to 4.2%

India's chemical demand likely to jump to $1,000 billion by 2040: Report

India is likely to account for more than a fifth of incremental global consumption for chemicals over the next two decades as domestic demand is projected to rise to USD 1,000 billion by 2040, McKinsey said in a report. In the report titled 'India: The next chemicals manufacturing hub', McKinsey said the country's chemical industry has been a global outperformer in demand growth and shareholder wealth creation over the last decade. "It now stands poised to play an increasingly dominant role across both consumption and manufacturing in the global arena," it said. The sector is projected to grow at 11-12 per cent during 2021-27 and 7-10 per cent during 2027-40 -- tripling its global market share by 2040. "India is expected to account for more than 20 per cent of incremental global consumption for chemicals over the next two decades. Domestic consumption and demand is expected to rise from USD 170-180 billion in 2021 to USD 850-1000 billion by 2040," it said. Chemicals find wide usag

Robust demand trends in chemicals biz, expansions positive for SRF stock

Company has increased capex for the business to tap into new opportunities

Input cost hike, freight rates drag chemical MSMEs in Gujarat to 50% output

Of the 11,000-odd units in the state, which account for nearly 40 per cent of India's chemical output, almost a third have turned sick

BASF, partners put $4 bn India chemical complex on hold due to COVID-19

BASF in April scaled back its investment budget as the coronavirus crisis hit automakers, the chemicals giant's biggest customers.

Centre moves to limit use of controversial herbicide glyphosate

Industry terms the move detrimental to India's food security; activists say 'useless'

Reliance opens research centre for polymer applications at Vadodara

The centre will offer services to not just to RIL's polymer business, but also for its customers

Nuberg bags EPC contract for caustic soda plant project in Egypt

Egyptian Petrochemicals has awarded the contact to the company to set up the 228-TPD plant

L&T to partner Institute of Chemical Technology for 2G ethanol plants

LTHE & ICT to provide complete solutions in setting up 2G ethanol plants, based on ICT technology

AkzoNobel unveils new strategy to accelerate growth

Plans separation of specialty chemicals business within 12 months & investment €1 bn in R&D by 2020

ExxonMobil plans $20 bn investment to expand manufacturing in US

It will make investment, spread over 10-year, in major chemical, refining, lubricant & LNG projects

Auto, construction sectors to drive Asia-Pacific coating resins market

Growing focus on innovations to create opportunities in Indian coating resin market, says TMR report

Camlin Fine Sciences to buy 51% stake in Chinese chemical firm

Ningbo Wanglong supplies flavour and fragrance products (vanillin) to food manufacturers globally

PE firm Blackstone buys Solvay's cellulose acetate tow business

The transaction is based on an enterprise value of about € 1 billion

Total to partner with Suez to recycle cooking oil into biofuel

As per the deal, Suez will annually supply 20,000 MT of used cooking oil to Total's La Mede biorefinery, where it will be processed into biofuel

Dow eyes power plants for new wastewater treatment technology in India

With Fortilife, which enables minimum liquid discharge (MLD), Dow Water & Process Solutions aims to tap water intensive industries such as textile, power, etc

Praxair to supply oxygen & nitrogen for MEGlobal's ethylene glycol plant

As part of this project, Praxair will also construct a new carbon dioxide purification and liquefaction facility

Praxair and GE Aviation form JV to develop specialised coatings

The JV company, PG Technologies, will focus on development and application of specialised coatings tailored for GE Aviation's and CFM International's current and future engine models