Published on September 3, 2014
The two basic chemical – Phenol and Acetone, which in due course have become an essential ingredients in copious beneficial products that are mostly used by consumers in day to day life and it also allows manufacturing derivative products. The chemical Phenol consists of six-member aromatic ring, bonded directly to a hydroxyl group as it is also known as carbolic acid which is an organic compound, and as a precursor to many materials and useful compounds Phenol is produced on a large scale. According to the research reports, this year most of the Phenol-Acetone manufacturers have scheduled their upcoming projects for near term.
In the beginning of August, 2014 Deepak Nitrite Ltd. (DNL) which is a leading producer and supplier of organic, inorganic and fine chemicals of India had announced that the board of directors on 7th August, 2014 had permitted the conception of the project to manufacture Phenol and Acetone plant. According to the sources, the major Phenol-Acetone chemical manufacturer which is based in Vadodara, India will be setting up the project at a cost of about Rs. 1,200 crore at Dahej in Bharuch district in Gujarat.
Furthermore, as per the company the production capacity of Phenol will be 200,000 million tons/annum and Acetone which is the co-product of Phenol will have a production capacity of 120,000 million tons/annum. Moreover for raising resources on which the proposed plant may be set up either within the company or in a Special Purpose Vehicle (SPV) as its subsidiary, the company is scrutinizing various financial options. However the project for manufacturing Phenol and Acetone will be funded through equity and debt.
Amid the Chinese petrochemical producers, Shanghai Sinopec Mitsui Chemical Company (SSMC) which is a joint venture companies between two major petrochemical manufacturers will commence its Phenol-Acetone plants in the in the month of August/September, 2014 which was scheduled to come online by July 2014. The plants that are based in Shanghai, China have a production capacity of 400,000 mt/year.
On the other hand joint venture between two countries China and Japan is working on a Phenol project at Shanghai. Sumitomo which is a Japanese petrochemical producer have agreed to acquire a marginal share in Cepsa Quimica China (Shanghai) and will be a jointly owned 75% by CEPSA and 25% by Sumitomo. Through the subsidiary of CEPSA - CEPSA Quimica China, the plant which is building in Shanghai is at present enduring the final phase of construction and will have the capacity to produce Phenol with production capacity of 250,000 tons/year, Acetone with 150,000 ton/year and Cumene with 360,000 ton/year. Moreover, with the upcoming of this project it will make CEPSA the second largest producer of Phenol in the world.
According to the sources, Saudi Arabia based petrochemical producers Rabigh Refining & Petrochemical Company (Petro Rabigh) which is a joint venture between Japanese major petrochemical producers Sumitomo Chemical and a stated owned Saudi Aramco are expected to complete their 275,000 tons/year Phenol project this year, moreover this project forms part of the plans of Petro Rabigh to expand the schedule product and debottleneck the ethane cracker at its refinery and petrochemicals complex.
