Market News
Far East and Baltic Countries Ammonium Sulfate Market- Key Developments
- In May 2023, China Petroleum & Chemical Corporation (HKG: 0386, "Sinopec") signed a key terms agreement with KazMunayGaz, the national operator of the oil and gas industry of Kazakhstan, for developing a polyethylene project in the Atyrau Region on May 18 in Xi'an, China. The agreement, signed during Kazakh President Kassym-Jomart Tokayev's visit to China, marks that Sinopec will participate in and push forward the project as a cooperative partner. The polyethylene project will be the largest natural gas and chemical project in the region, the investment decision of which is expected to be finalized in 2024, and when Sinopec formally joins the project in the future, all parties will sign an equity acquisition agreement and other legally binding documents of relevance.
- In March 2023, DOMO Chemicals, A leading manufacturer of finagled materials, announced the groundbreaking for its new plant in Haiyan, Jiaxing, Zhejiang, China. The new factory will produce TECHNYL polyamide- based grades, and is expected to be in operation by end Q1 2024. It represents a significant investment of € 14 million (100 million RMB) by DOMO Chemicals and covers a total area of 40,000 square meters.
- In Feb 2022, modernization of the Ammonia-3 and Ammonia-4 plants at Grodno Azot will bring production volumes up to 2.1 thousand tons per day, according to the First Deputy General Director of Grodno Azot OJSC, Chief Engineer Sergei Silivonik
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