Page 158 - CW E-Magazine (28-1-2025)

News from Abroad

EXPLORING STRATEGIC ALTERNATIVES
Ingevity puts certain performance chemicals

and crude tall oil refinery assets on the block

US-based Ingevity said it plans to South Carolina crude tall oil (CTO) will strengthen the company’s perfor-
exit its performance chemicals industrial refinery. mance chemicals segment and allow
specialties product line as well as one of it to focus more on its higher growth
its refineries in South Carolina. Ingevity said that it may explore a and higher-margin opportunities while
potential divestiture of portions of its improving the earnings and cash flow
The company, which manufactures North Charleston site. profile.
speciality chemicals, high-performance
carbon materials and engineered poly- This process will not include the Per- “We believe we will be well posi-
mers, said that it plans to explore strategic formance Chemicals Road Technologies tioned for profitable growth and value
alternatives for the assets. product line, nor certain lignin-based creation beginning in 2025,” Mr. Fer-
products that are currently reported in nandez-Moreno said. “We are continu-
Ingevity noted that these will in- Ingevity’s Industrial Specialties product ing to evaluate the rest of the Inge-
clude the pine chemical-based chemis- line. vity portfolio and remain committed to
tries that serve the paper chemical, taking appropriate actions, including
rubber, adhesive, oilfield, lubricants and Ingevity’s CEO Mr. Luis Fernan- ensuring our cost structure is aligned
industrial intermediate end-use mar- dez-Moreno said that exiting most of with our objective of being a speciality
kets, as well as the North Charleston, the industrial specialties product line chemicals leader,” he added.
PROJECT PARTNERS
Saudi’s Ma’aden awards contracts for its third phosphate

fertiliser plant

Saudi Arabian Mining Co., also As part of its ‘Vision 2030’, Saudi tract was awarded to Sinopec’s sub-
known as Ma’aden, has awarded three Arabia is capitalising on its vast reserves sidiary for construction at Wa’ad Al-
contracts worth Saudi Riyal (SR) 3.45-bn of phosphate, gold, copper, and bauxite Shamal. Tekfen Construction secured
($921.58-mn) for its third phosphate to reduce its reliance on oil. Valued at the third contract, with work at Wa’ad
fertiliser plant. approximately $2.5 trillion, the Saudi Al-Shamal included.
mining sector is regarded as the fast-
In a filing with the Tadawul stock est-growing globally and is positioned as The development aligns with
exchange, the state-owned mining firm, the third pillar of its industrial economy. Ma’aden’s 2016 announcement of a
named the contractors as China National feasibility study for a world-class phos-
Chemical Engineering Co., Sinopec The three contracts awarded include phate fertiliser production complex in
Nanjing Engineering and Construction, an agreement for general construction Wa’ad Al-Shamal Minerals Industrial
and Turkiye-based Tekfen Construction at Ras Al-Khair with China National City, situated in Saudi Arabia’s Northern
and Installation Co. Chemical Engineering. A second con- Province.
OQ Chemicals announces oxo intermediate
First announced in 2016, the project
is designed to add 3-million metric tonnes price hike
annually to Saudi Arabia’s phosphate OQ Chemicals said it increase prices for n-propanol and $90/mt for n-propyl
production capacity. Estimated to cost for n-propanol and n-propyl acetate pro- acetate. OQ Chemicals (formerly Oxea)
SR24-bn ($6.4-bn), the facility is being duced at Bay City, Texas, USA, effective is a manufacturer of oxo intermediates
developed in phases and was initially from February 1, 2025, or as contracts and oxo performance chemicals such
projected to reach full capacity by 2024, allow. For the ‘Rest of world’ region, the as alcohols, polyols, carboxylic acids,
the company said at that time. price increase is to the tune of $150/mt speciality esters, and amines.

158 Chemical Weekly January 28, 2025

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