Mitsubishi sells India petrochemical business to Purnendu Chatterjee
The Dollar Business BureauMitsubishi Chemical Holdings Corp announced it will transfer controlling equity interest of its Purified Terephthalic Acid (PTA) manufacturing subsidiary to India.Purnendu Chatterjee, Founder and Chairman of The Chatterjee Group (TCG), has acquired MCC’S petrochemical facility in India. The Japanese conglomerate of late has been trying to exit its petrochemical businesses in India and China."Mitsubishi Chemical Holdings Corp, the holding company of Mitsubishi Chemical Corp in its Board meeting in Tokyo passed a resolution to transfer controlling equity interest of MCC's PTA manufacturing subsidiary in India,” the company said in a statement.Mitsubishi had set up its India facility to manufacture purified terephthalic acid (PTA) in West Bengal. PTA is used to make industrial grade polyester resins, and PET ...
Punj Lloyd wins Ennore LNG project from Mitsubishi Heavy Industries, Japan
The Dollar Business Bureau Punj Lloyd Group, today announced winning a Rs 477 crores ($75 million) tankage order from Mitsubishi Heavy Industries Ltd of Japan. The scope of work entails confirmatory geotechnical investigation, early earth works, construction of two 180,000 m3 capacity full containment LNG Tanks on elevated piled foundation for LNG import, storage and re-gasification terminal project of Indian Oil Corporation at Ennore port in Tamil Nadu, India. Once completed (to be completed in 33 months), the LNG imported to the Ennore terminal will be used by utility company power generation plants as an alternative fuel and as feedstock by fertiliser plants. Earlier, Punj Lloyd was also involved in the construction of three of the four LNG terminals of the country ...
