Rain Commodities subsidiary setting up petroleum coke plant in china

Thebullishtrends: Rain Commodities shares are trading at Rs. 192(+Rs.165) Rain Commodities Ltd has announced that Rain CII Carbon LLC, USA (Rain CII), a wholly owned subsidiary Company has launched a feasibility study to construct, own and operate a petroleum coke calcining plant in China. The planned capacity for the new facility is between 300,000 and 500,000 MT/yr, with start up in early calendar 2010.The proposed facility will be located in Eastern China in close vicinity to major oil refineries and port facilities. The location adds raw material sourcing and finished product distribution synergies to their global calcining operations. Rain CII is adopting a strategy focused on adding new facilities to increase capacity and reducing distribution costs for end consumers.With a total capacity of 2.5 million MT/yr, Rain CII is currently the largest calciner entity in the world. In 2007, Rain CII produced roughly 2.2 million MT of calcined petroleum coke.