JV forms to build 300,000 t/y Tatarstan PET plant

01 September 2008 11:46  [Source: ICIS news]

MOSCOW (ICIS news)--Russia's AK Bars Bank and Korea's KP Chemical signed a deal to create a joint venture, AK Bars Holdings, to build a PET plant with a capacity of 300,000 tonnes/year, the Tatarstan regional government said in a statement on Monday.

 

The new PET production facility, to be based in Alabuga in Russia's central Tatarstan region, would require an investment of €100m ($147m), the statement said.

 

There are three PET producers operating in Russia.

 

Sibur-PETF has a capacity of around 50,000 tonnes/year, Europlast runs a 90,000 tonnes/year plant at Senezh near Moscow and Polyef has a 120,000 tonne/year PET facility at Blagoveschensk in the western Bashkortostan region.

 

($1 = €0.68)

 

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By: Sergei Blagov
+44 20 8652 3214

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