Page 124 - CW E-Magazine (9-4-2024)

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FEEDSTOCK SUPPLIES
Haldia Petro seeks local naphtha supplies amidst

Red Sea disruptions

Haldia Petrochemicals Ltd. (HPL) is Hindustan Petroleum Corporation Ltd. producers like Abu Dhabi National Oil
looking to source its feedstock, naphtha, (HPCL) and Bharat Petroleum Corpo- Company (ADNOC) and Kuwait Petro-
from domestic refi ners to shield itself ration Ltd. (BPCL) – for the rest. leum Corp (KPC), compared to local
from volatile shipping costs triggered refiners who also process Russian
by ship attacks in the Red Sea, the com- While freight costs have now come crude, and produce naphtha which is
pany’s Chief Executive Offi cer has said. off highs after spiking 30-40%, there is slightly heavier.
no certainty costs will not rise again in
The company, which owns a naphtha the next 12 months, HPL’s CEO, On petrochemical margins,
cracker with a capacity of 700-ktpa Mr. Navanit Narayan told Reuters. Mr. Narayan said overcapacity globally
of ethylene at Haldia, West Bengal, is weighing on profi ts even though
sources 50% of its feedstock from Mr. Narayan said HPL uses lighter demand is stable compared with last
the Middle East and relies on local grades of naphtha, which are more year. He expected margins in India to
refi ners – Indian Oil Corporation (IOC), readily available from Middle Eastern recover after the fi rst quarter in 2025.

NEW MANUFACTURING FACILITY
Bodal Chemicals starts commercial production

of nitrochlorobenzenes

Gujarat-based dyes and speciality ted the site on 28th March, 2024 and
chemicals firm, Bodal Chemicals confi rmed commencement of commer-
Ltd., which had started commercial cial production as above,” the company
production of monochlorobenzene said in a statement.
(MCB) on December 29, 2023 at its
manufacturing unit at Village Saykha, The company had earlier announced
near Dahej, Gujarat, has started pro- the setting up new projects of specialty
duction of MCB derivatives, including benzene-derived products with total
para-nitrochlorobenzene (PNCB) and capacity of 63,000-tpa at the site. At
ortho-nitrochlorobenzene (ONCB) on optimum capacity utilisation, these plants
March 16, 2024. have the potential to augment turnover
by Rs. 320-crore at 12-15% margin, the
“Our lenders’ independent has visi- company said.

SUSTAINABILITY PERFORMANCE
Privi awarded Ecovadis Gold certifi cation

Privi Speciality Chemicals Ltd., a trading partners to share information, 2024 scorecard, putting it in 98th per-
leading manufacturer and exporter of request assessments, monitor perfor- centile. It was rated ‘Advanced’ across
aroma chemicals, has been awarded the mance, etc. the four EcoVadis themes – Environ-
‘Ecovadis Gold’ certifi cation in recog- ment, Labour & Human Rights, Ethics
nition of its sustainability performance. Privi, which has two manufacturing and Sustainable Procurement – putting
sites – at MIDC Mahad (Maharashtra) it amongst top 5% of the few thousands
EcoVadis is the fi rst and largest and Jhagadia (Gujarat) – bagged an of companies assessed by EcoVadis
collaborative platform in the world for overall score of 77 on EcoVadis’ March globally, the company said.

124 Chemical Weekly April 9, 2024

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