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, ?xml:namespace>
“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.
To discuss issues facing the chemical industry go to ICIS connect
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|
Asian Chemical Connections