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Idemitsu & Mitsui merge naphtha crackers operations
02 Oct '10
1 min read
Idemitsu Kosan Co – the Japanese oil refiner and Mitsui Chemicals Inc – the petrochemical manufacturer announced that they are going to merge the functioning of two naphtha crackers which will mark the beginning of their 50-50 partnership.
Both the firms have declared the joint venture in the month of April but had not mentioned when they would merge the operations of these two crackers in Chiba, with a potential to manufacture 920,000 tons of ethylene per year.
The partnership will account for around 12 percent of the country's ethylene production capacity of more than 7 million tons in a year and has come at a time when the other Asian competitors and the petrochemical plants of Middle East, have increased their production, using low-priced gas in place of naphtha.
Both the firms have declared the joint venture in the month of April but had not mentioned when they would merge the operations of these two crackers in Chiba, with a potential to manufacture 920,000 tons of ethylene per year.
The partnership will account for around 12 percent of the country's ethylene production capacity of more than 7 million tons in a year and has come at a time when the other Asian competitors and the petrochemical plants of Middle East, have increased their production, using low-priced gas in place of naphtha.
Fibre2fashion News Desk-India
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