25 February 2002 00:00 [Source: ICB]
###10829###Shell Chemicals Canada has signed a contract with SGF Chemie to establish a 50:50 limited partnership to build and operate a polytrimethylene terephthalate (PTT) plant near Montreal, Quebec, Canada. The new joint venture company will be called PTT Poly Canada. Shell had originally intended to build the plant in Altermira, Mexico. (ECN 3 December 2001).
The project will require an investment in excess of $100m, with the company benefiting from a contribution of $15m from Investissement Quebec, including a loan of $5m for the implementation of the plant.
The project is expected to create 1000 jobs during construction and 750 direct and indirect jobs once completed. The 95000 tonne/year plant is due to start up in the fourth quarter of 2003. A venture between SGF and Interquisa will provide purified terephthalic acid feedstock from a plant being built in Montreal, while 1,3 propanediol will be sourced by a Shell affiliate from a plant in Geismar, Louisiana, US.
Deputy prime minister of state for the economy and finance, Pauline Marois, said: 'The establishment of this subsidiary in the east end of Montreal will reinforce Quebec's leading position in the worldwide petrochemical industry.
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