Home / Knowledge / News / Textiles / Huntsman JV completes project financing for maleic anhydride expansion
Huntsman JV completes project financing for maleic anhydride expansion
12
Feb '09
Huntsman Corporation announced that Sasol-Huntsman GmbH & Co. KG, its maleic anhydride production joint venture with Sasol Limited ("Sasol"), has successfully completed negotiation of project financing agreements. The project financing is non-recourse to the joint venture's parent companies and will add no debt to Huntsman's balance sheet.

The new financing will be used to expand the joint venture's maleic anhydride production site in Moers, Germany, from its existing yearly capacity of 60,000 tonnes to a new capacity of 105,000 tonnes by addition of a second world scale reactor. Like the existing reactor, the new unit will use Huntsman's proprietary technology and catalyst.

The new reactor and other major equipment is already on order, detailed engineering is under way, and the EPCM contract has been awarded. Basic engineering and site preparation were completed early last year. Start-up of the new unit is scheduled for the first quarter of 2011.

The addition of the second reactor at the Moers site, along with the planned April 2009 start-up of Huntsman's wholly-owned 45,000 tonne maleic anhydride plant in Geismar, Louisiana, will increase Huntsman's total global maleic anhydride capacity (including its joint venture) from its current capacity of 139,000 tonnes to a new capacity of 207,000 tonnes per year.

Huntsman Vice President Tom Fisher stated, "Maleic anhydride is a strategic growth product for Huntsman. We continue to expand our worldwide presence in this important product, both through joint ventures - as we are doing with Sasol in Germany - and in our wholly-owned plants in North America - as we are doing by adding our new site in Geismar to complement our existing production in Pensacola. We are committed to meeting the needs of our global customers."

Huntsman is the world's largest producer of maleic anhydride and a leading licensor of technology for its production. Huntsman is also a worldwide supplier of catalyst required in the production of maleic anhydride.

Huntsman Corporation


Must ReadView All

India’s WPI inflation for textiles up 0.3% in Nov 2017

Textiles | On 14th Dec 2017

India’s WPI inflation for textiles up 0.3% in Nov 2017

India’s annual rate of inflation, based on monthly wholesale price...

Cambodia’s economic growth to remain strong in 2017 & 2018

Apparel/Garments | On 14th Dec 2017

Cambodia’s economic growth to remain strong in 2017 & 2018

Cambodia’s economy is expected to grow at 6.9 per cent and 6.8 per...

2 garment factories to be set up in Jordan’s Arjan, Souf

Apparel/Garments | On 14th Dec 2017

2 garment factories to be set up in Jordan’s Arjan, Souf

Jordanian Prime Minister Hani Mulki recently laid the foundation...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search