This Week's Top Stories

24 July 2007 00:04  [Source: ICIS news]

This week our key focus is on India and its growing presence in the chemical industry. Economic growth is robust, but will infrastructure hold it back? Get an update on Reliance’s supersite in Jamnagar, and what the future holds for fine chemicals, drug discovery and biofuels.

This Week’s Top Stories: July 23, 2007

Features: India

Gujurati grandeur

THE VIEW at night is spectacular. On a vast, arid tract along India’s west coast, in the state of Gujarat, Reliance Industries’ Jamnagar facility glitters like the skyline of New York. Within a year, however, the scene will become yet more extraordinary. Adjacent to the 660,000 bbl/day refinery that has operated at Jamnagar for eight years, a 580,000 bbl/day export-focused refinery is quickly rising into the sky.

Time for an upgrade

IN MOST parts of India, shortages of electricity are regular occurrences. Power is rationed in some cities, so businesses must tolerate one day a week off the grid. Roads and railways, water services and other infrastructure are similarly underdeveloped.

Wheels of slow change

A FEW years ago, if industry experts had been asked whether India would be able to replicate its information technology growth success within the petrochemical industry, the answer would have been a decisive “no.” But, with the country’s gross domestic product (GDP) growth rate for fiscal 2006–07 soaring to 9.4%, and foreign exchange reserves crossing the $200bn mark, several industry skeptics are increasingly optimistic about India’s prospects of attracting significant petrochemical investments.

In fine form

INDIAN FINE chemical players are no longer content to stick to the lower end of the value chain. They have evolved into niche players, emphasizing their strengths and adapting to the needs of their clients, particularly the pharmaceutical industry.

Slow start for biofuels

INDIA IS spicing up its biofuels program to counteract an increase in the costs of crude oil imports. Expenditure on oil imports is said to have nearly doubled because of rising global prices. These imports are required to meet about 72% of domestic demand, and this is expected to expand in the next few years, says the US Department of Agriculture’s Foreign Agricultural Service (FAS).

Drug discovery hits India

the GLOBAL pharmaceutical industry is rallying to infuse flagging pipelines with innovative new drugs. But outsourced drug discovery is expected to gain, and India, intensifying its activities in chemistry, biology, and research capabilities, will be a winner.

Also this week:

Chemical profile

Acetic acid is expected to grow 4%

New projects summary

Roundup of new projects across the globe

Market trends and data:

Weekly update of global price movements in key commodity chemicals

For subscription information, email csc@icis.com, or call (866) 703-4254 from North America, or (212) 791-4254 worldwide.

ICIS Chemical Business is our global weekly incorporating the former titles Chemical Market Reporter, European Chemical News and Asian Chemical News. For further information please see the magazine website.

By: Staff Reporter
+44 20 8652 3214

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly