27 February 2008 15:25 [Source: ICIS news]
MOSCOW (ICIS news)--Russia's AK Bars Bank and South Korea's KP Chemical have formed a joint venture to build a new 300,000 tonne/year polyethylene terephthalate (PET) plant in Tatarstan, the bank said on Wednesday.
The new PET production facility, to be based in the special economic zone of Alabuga in c?xml:namespace>
The JV would join Sibur-PETF, which has a capacity of 52,000 tonnes/year at its Senezh line near
Polyef produces 230,000 tonnes/year of purified terephthalic acid (PTA) and now planned to launch its 120,000 tonne/year PET facility in the second quarter after planning to start production in late 2007.
($1 = €0.67)
For more on PET visit ICIS chemical intelligence
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|