EMC to merge with Williamson Magor engineering subsidiaries

The BM Khaitan-controlled Williamson MagorBSE 1.59 % Group's engineering arms and transmission tower maker EMC Ltd are being merged to create a giant engineering joint venture with a turnover of Rs 6,000-7,000 crore. According to a notice sent to stock exchanges, EMC, McNally Bharat Engineering (MBEL) and McNally Sayaji Engineering (MSEL) will merge into Kilburn Engineering.

While EMC is controlled by Manoj Toshniwal, Williamson Magor group owns MBEL, MSEL and Kilburn Engineering. According to some sources, the merged entity will be jointly run by the Khaitans and Toshniwal. The Khaitans and Toshniwal declined to comment on the issue. If approved, the merged entity will become a complete solution provider for power plants as well as power transmission units, material handling and specialised drying equipment.

They said the two parties decided to make Kilburn Engineering the holding company primarily because it does not have any crossholdings. EMC holds about 30% of McNally Bharat Engineering's equity capital, while McNally Bharat holds shares of McNally Sayaji. The Khaitans and the Toshniwals have decided to form a committee with representatives from the companies being merged. 

BPCL plans to spend Rs 10,000 crore to boost its refining capacity

Bharat Petroleum Corporation (BPCL), India's second biggest state refiner, plans to spend about Rs 10,000 crore in 2016-17 to expand and upgrade its refining capacity and augment its marketing infrastructure, its finance chief has said. 

"We need to invest in infrastructure to meet the growing demand in the market," said P Balasubramanian, director (finance) at BPCL, which has made about Rs 9,500 crore in capital expenditure in the current fiscal year. Indian refiners and fossil fuel retailers have been working on adding new capacity to cater to the rapidly rising fuel demand in the country. 

The petroleum product consumption had grown by 10% till January this fiscal year. An expansion underway at Kochi refinery will take about 40% of the BPCL's planned capex for 2016-17. The refinery is adding 6 million tonne per annum (MTPA) to the existing capacity of 9.5 MTPA. BPCL's total capacity is about 27.5 million tonne. 

Another Rs 1,000 crore would go towards upgrading other refineries to help them produce higher grade fuels that meet Euro IV and VI emission norms. The government wants all state refiners to make available Euro IV fuels across the country next year and Euro VI by 2020. 

About Rs 1,000 crore would be utilised by the company's upstream business managed by Bharat Petroresources that has just bought nearly 10% stake in an east Siberian field owned by Rosneft. The balance funds would be deployed in building a petrochemicals unit, pipelines, marketing terminals and depots, and procuring cooking gas cylinders. 

Sika opens new mortars and concrete admixtures plant in Vancouver, Canada

Switzerland-based chemical company Sika has opened a new mortars and concrete admixtures plant in Vancouver, Canada.

With the new plant, which is the company's fourth facility in Canada, Sika expects to serve the Pacific Northwest, a region that includes the cities of Vancouver, Seattle and Portland.

The new plant fulfils the company's continued supply chain strategy in North America by expanding production capacities in conurbations and major cities in the area.

The facility features a modular mortar plant and liquid concrete admixture, blending equipment for producing a wide range of concrete admixtures, as well as a quality control laboratory, a warehouse and office space for administrative and sales personnel.

The newly opened mortars and concrete admixtures plant, covering an area of 30,000ft², will produce a broad range of cementitious mortars and grouts including SikaTop, Sikacrete, SikaQuick, SikaRepair, SikaSet, Sika MonoTop, Sika Level, and SikaGrout.