SK Zhenbang to start up new PET plant on 19 Mar

10 March 2009 02:02  [Source: ICIS news]

NINGBO, CHINA (ICIS news)--Ningbo SK Zhenbang Chemical plans to start up its new 150,000 tonne/year bottle-grade polyethylene terephthalate (PET) plant on 19 March, company officials said.

The plant is located at Cixi, Ningbo in China’s eastern province of Zhejiang.

“Everything is on schedule and we would start feeding in the raw materials on 19 March. The plant can produce up to 180,000 (tonnes/year),” said SK Zhenbang CEO KS Cho.

This PET line in Cixi was reconfigured from an old fibre-grade PET unit, which was formerly 100% owned by Zhejiang Zhenbang Chemical Fibre.

SK Zhenbang would market the new products under the SkyPET brand, which is owned by SK Chemicals of South Korea.

About 40% of the products would be exported while the majority will be sold within the Chinese domestic market.

SK Zhenbang is a joint venture between Zhenbang Chemical Fibre, Korean trading house SK Networks and Korean PET producer SK Chemicals.

Zhenbang owns 54% of the joint venture with the remaining stake held by the two Korean companies.

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By: Salmon Aidan Lee
+65 6780 4359

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