10-11 Mar, 2015 - Singapore, SINGAPORE
Goodwood Park Hotel Singapore
Goodwood Park Hotel Singapore
Deepak Fertilizers and Petrochemicals Corporation Limited (DFPCL) is awaiting the final nod from Ministry of Environment and Forests (MoEF) India, to build a 300 kilo tonnes per annum (KTPA) phenol plant in Mangalore.
The greenfield project is expected to manufacture cumene, phenol, acetone, iso propyl alcohol (IPA), acetophenone (AP) and alpha methyl styrene (AMS). To be built at a cost of Rs. 1800 crores, the plant is proposed near MRPL (Mangalore Refinery and Petrochemicals Limited).
The plant will need around 252 KTPA of benzene, which is planned to be procured from OMPL (ONGC Mangalore Petrochemicals Limited). Moreover, the units are also expected to consume 95 KTA of propylene, planned to be sourced from MRPL (provided benzene is sourced from OMPL).
The company is confident of catering to India's phenol demand, which is one of the highest in Asia, apart from China. While global demand for phenol is expected to be about 3-4% per annum for the next few years, the Asian demand growth is estimated at 8 -10%.
According to DFPCL, India's phenol demand mainly comprises of phenolic resins (65%) and agro-intermediates and pharma (18%), a different demand trend as compared to the global phenol markets.
As plywood manufacturers are increasingly shifting to Phenolic Formaldehyde resins (PFR) from Urea Formaldehyde resins (UFR), the demand for phenolic resins are expected to rise.
More on phenol / phenolic resins market trends will be discussed at CMT's 12th Phenol/Acetone & Derivatives Markets on 10-11 March, 2015 in Singapore.
Contact Ms. Grace Oh at grace@cmtsp.com.sg or call +65 6346 9147 for more details.
