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KTI/TPL supply ethylene know-how to China.

The Dutch contractor KTI and its partner TPL have won their first contract to supply propriety ethylene technology to a grassroots plant in China. Under a contract signed with the Chinese National Technical Import/Export Corp., KTI and Rome-based TPL will supply technology for a 115,000 tonne/year ethylene plant to be built in Beijing. The plant will be operated by Beijing Dong Fang Chemical Works. It will also include butadiene facilities based on TPL technology.

The contract covers basic and detailed design of the hot section and furnaces, supply of the furnaces and detailed design and supply of the pyrolysis gasoline hydrogenation system. A spokesperson for KTI described the award as |a major breakthrough' after a number of previous projects in China in which KTI was mainly involved as supplier. These projects included reformers, cracking furnaces and revamps of existing installations.

The plant will use naphtha and/or heavy gasoil as feedstock. Startup is planned for autumn 1994. All the ethylene will be used captively by Beijing Dong Fang Chemicals, which was existing plant for ethylene vinyl acetate and other specialty chemicals. Financing is to be carried out by a combined Italian/Dutch export credit arrangement.

Meanwhile, China's state council has approved feasibility studies on a 300,000 tonne/year ethylene project at Jilin and a 300,000 tonne/year ammonia project at Nanjing. Both are to start up during the eighth Five Year Plan.

Jilin Chemical already operates a 115,000 tonne/year ethylene plant in northeastern Jilin province, widely regarded as the most efficient of its type in the country with utilisation rates of above 90%. To build a new 300,000 tonne/year facility based on the existing infrastructure could save Yuan 900m ($172m). The ammonia object is proposed by Nanjing Chemical for eastern Jiangsu province. Plans call for conversion to 520,000 tonne/year of urea.

Five-Japanese trading companies are finalising details for a feasibility study on the construction of a 450,000 tonne/year ethylene plant and downstream units in Liaoning province, China, according to reports in the Japanese media. The five, Mitsubishi Corp, C Itoh, Mitsui & Co., Sumitomo Corp. and Marubeni Corp, are expected to sign an agreement with local Chinese partners in the near future. The plan is to source feedstock from the Taching oilfield. It is understood the Japanese consortium would be responsible for raising the finance, estimated at $3bn, if the project goes ahead.

State Life Insurance

Corporation of Pakistan

The premium of Groups & Pension business of State Life has shown a growth of 17.37% during the year 1991. The total collection was Rs. 746.85 million as against Rs. 363.26 million in 1990, thus showing the net increase Rs. 110 million which is remarkable feature.

This was disclosed by Sayed Muzafar Ali Shah, Executive Director, State Life Insurance Corporation recently while inaugurating the Corporation's Group & Pension Conference.

Sayed Muzafar Ali Shah, Executive Director Group & Pension welcome reviewed the business performance for 1991. He said the Division has issued 225 new Group Policies in 1991 as compared to 190 Policies last year, the persistency of business stood at 98.81%. He said that during 1991 the Group & Pension Division settled 13,717 Claims with a total amount of Rs. 491.79 million as against 12,337 Claims of Rs. 403.11 million in 1990. The Claim Ratio in 1991 has been 65.84% as against 63.31% in the year 1990.

Earlier the Executive Director Policyholder Service Mr. S.H.Z. Jafri congratulated the delegates of G&P Conference on superb job done by them in 1991, he further expressed that with emergence of new Insurance Companies State Life will have more opportunity to develop further through competition.

The Executive Director, Finance, Investment and Law while addressing the delegates commended the Sales Executive of Group & Pension on the successful closing in 1991 with 17% growth over 1990. He said that the Yield on investment has gone up to 14%. He further said that owing the sound and profitable investment policy State Life has earned a profit of Rs. 8 Crore. He advised the Sales Executives to count upon selling new Group Insurance Policies.

Mr. Naseemuddin Ahmad, General Manager Group & Pension Division expressed his satisfaction and said that the Group & Pension Division have successfully achieved the prescribed business targets in the year 1991 and have been providing excellent service to the Policyholders.

Inauguration of NCR

Education Centre

The Centre was inaugurated by Dr. Abdullah Omer Naseef, Secretary General of Rabta Alama Islami. Addressing the inaugural ceremony Dr. Naseef said, "I am confident that NCR Education Centre will meet the challenges of fast changing technology in Computers and Information systems. This Education facility will not only serve Pakistan but is fully geared to cater to the requirements of other neighbouring countries and specifically the Middle East."

Dr. Abdullah Omar Naseef is Internationally renowned educationist and he is at the Board of Several Universities around the world and is Chief Patron of NCR Education Centre.

The NCR Education Centre has been the out come of a joint venture by NCR Corporation and Industrial & Business Management International. Mrs. Rukshana Zuberi, Chief Executive of NCR Education Centre thanked the Chief Patron Dr. Abdullah Omer Naseef and described it as a singuler honour that Dr. Muneer Hussain VC, NED, University and Dr. Ansar Khan, Dean Computer Science and Dr. Alauddin, for Computer Society of Pakistan are also present here. Mrs. Zuberi asserted that Education is a commitment for us and therefore we will not be dealing in any hardware and our facilities are open to users of all hardwares.
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Title Annotation:Global Outlook; KTI Chemicals Inc.; TPL Tecnologie Progetti Lavori S.p.A.
Publication:Economic Review
Date:Feb 1, 1992
Words:936
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