Daily Chemical News Recommendation ( Sept. 4 2018)

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>> Germany's Veka and NCL to set up uPVC plant in Telangana

Veka, Germany based maker of uPVC profile systems for windows and doors, is all set to commission a manufacturing plant through a joint venture with leading building materials company, NCL group.

The plant, at advanced stage of commissioning, is coming up at Medak district of Telangana. The plant will not only serve the Indian market, but is also designed to be a regional hub for West Asian and African markets.

Mr. Andreas Hartleif, Chief Executive Officer of Veka said, “India is a key focus area for Veka as there is huge potential for growth in the uPVC market. We are making investments in India to tap into the rapidly expanding market and also to service the region.”

Mr. Ashven Datla, Managing Director of NCL-Veka, said, “The compan [More] 

 >>India's palm oil imports set to hit six-year low

India’s palm oil imports are likely to fall 15% in 2017-18 from the year before to their lowest in six years, hit by a hike in import taxes, a weaker rupee and tighter credit for would-be buyers, according to a Reuters report.

“Local prices moved up due to higher import tax and depreciation in the rupee. The price rise moderated demand for imports,” said Dr. B.V. Mehta, Executive Director, Solvent Extractors’ Association of India (SEA).

The government had raised import tax on refined palm oil in March to 54% to support local farmers. That made palm cargoes less appealing than shipments of alternative edible oils such as soya oil, sunflower oil and canola oil, at least until import duties on those commodities were raised to 45% in June. [More]