West Bengal-based Haldia Petrochemicals Ltd (HPL) has pledged to invest Rs 8,000 crore more on a naphtha cracker unit and polypropylene (PP) facility in Odisha. The fresh investments are over and above the Rs 70,000...
Chevron Phillips Chemical in bid to acquire Nova Chemicals – sources
Chevron Phillips Chemical Company, a joint venture between Chevron Corp and Phillips 66, has offered to acquire Nova Chemicals Corp for more than $15 billion including debt, people familiar with the matter said on...
LyondellBasell ends talks with Odebrecht to buy Braskem
Shares in petrochemical producer Braskem were down 20 percent in pre-market trading in Sao Paulo after petrochemical giant LyondellBasell Industries NV on Tuesday said it had ended talks with Braskem SA’s controlling...
SABIC says challenges remain, views Aramco deal positively
Saudi Basic Industries Corp (SABIC) expects to face challenges this year due to uncertainty over the impact of a global trade war on the United States and China, its major markets, the company’s chief executive said on...
Saudi petrochemical giant has team scouring world for M&A deals
Saudi Basic Industries Corp. is targeting acquisitions and partnerships with oil majors as the petrochemicals giant seeks to expand in faster-growing markets such as China and India, according to Chief Executive Officer...
NCLT allows more time to Haldia Petrochemicals to submit resolution plan
The National Company Law Tribunal (NCLT), Chennai bench, has granted Haldia Petrochemicals more time to submit a revised resolution plan for Nagarjuna Oil Corporation Ltd (NOCL). The development comes after multiple...
KKR to bail out JBF Industries, will buy its petrochemical unit
Beleaguered polyester and petrochemicals manufacturer JBF Industries Ltd has decided to sell its petrochemicals business to private equity firm KKR and Co. in a bid to stay the insolvency proceedings being initiated...
Petronas Chemicals eyeing acquisitions to boost specialty business
The chemical manufacturing unit of Malaysia’s state energy firm Petronas [PETR.UL] is actively looking to acquire companies to expand its specialty chemical business, its chief executive officer said on Tuesday...
Sun Petrochemicals in the race to buy Assam Oil Company
Dilip Shanghvi-promoted Sun Petrochemicals Pvt. Ltd has bid for the assets of debt-ridden Assam Co. India Ltd (ACIL), two people aware of the development said. Kolkata-based ACIL is India’s oldest tea company, and has...
PolyOne Corp set to buy engineering plastic maker Formulated Polymers
PolyOne Corporation, the global major of specialized polymer materials, is set to acquire India’s leading engineering plastic compound maker Formulated Polymers Ltd. The $3.2 billion PolyOne, which operates...
Lenders to consider resolution plans for debt-ridden Nagarjuna Oil today
The Committee of Creditors (CoC) for Nagarjuna Oil Corporation Ltd (NOCL) will meet on Tuesday to consider the resolution plans of prospective investors. According to sources, West Bengal-based Haldia Petrochemicals and...
JPMorgan, Morgan Stanley picked to advise on Aramco’s SABIC deal: sources
JPMorgan (JPM.N) and Morgan Stanley (MS.N) have been picked to advise on Saudi Aramco’s plan to buy a controlling stake in petrochemical maker SABIC 2010.SE, several sources familiar with the matter said. Aramco aims to...
