ICICI FOR INCREASING AROCHEM CAPACITY
Article Abstract:
The Industrial Credit and Investment Corporation of India (ICICI) has done an appraisal of Arochem's petrochemical complex project. It has advised the company to increase the capacity to make it economically attractive. It has found the present capacity of the project to be sub-optimal for paraxylene, orthoxylene, benzene and other petrochemical products. The Arochem complex at Manali is likely to cost Rs6,990-7000 crore. Engineers India Ltd had estimated the cost of the project at Rs4,000 crore earlier. In 1994, the Arochem project was estimated at Rs2,800 crore. ICICI has recommended the paraxylene capacity to be raised to 4 lakh tonnes. Its purified terephthalic acid capacity will also be increased to 3.5 lakh tonnes from 2.5 lakh tonnes. The company's polyester filament yarn capacity is likely to be doubled from 63,000 tonnes. (rk)
Comment:
Is advised by Industrial Credit & Investment Corp of India to raise capacity of its petrochemical complex project
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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MRL PULLS OUT OF AROCHEM PROJECT
Article Abstract:
Madras Refineries Ltd (MRL) has finally decided to withdraw from the Rs4,600 crore Arochem project and end its relationship with Southern Petrochemical Industries Corporation Ltd (Spic). National Aromatics and Petrochemicals Corporation Ltd (Arochem), a joint venture between MRL and Spic, was to have set up an integrated complex for aromatics, purified terephthalic acid and polyester filament yarn at Manali. Both MRL and Spic have invested about Rs20 crore in Arochem's equity. MRL had gone to court alleging that Spic had violated the joint venture agreement by venturing into the production of similar products through two different companies. (khr)
Comment:
Madras Refineries finally decides to withdraw from Rs4,600 crore Arochem project and end relationship with this co
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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MRL-SPIC DISPUTE OVER AROCHEM NEARS SOLUTION
Article Abstract:
The Union petroleum ministry has asked Madras Refineries Ltd to come to an understanding with Spic on the issue of implementing the aromatics and petrochemical project through their joint venture - Arochem. It is reported that the two companies have decided to resolve their differences and sign an agreement to get on with the Rs4,000 crore project. Both the companies have invested about Rs20 crore in the equity capital of the venture. (khr)
Comment:
Is believed to have resolved problems w/ Madras refineries on implementing aromatics & petrochemical project in JV Arochem
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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