29 March 2009 22:36 [Source: ICIS news]
SAN ANTONIO, Texas (ICIS news)--Brazil's Petroquimica Suape will meet captive purified terephthalic acid (PTA) demand with marketable overflow available when a new 700,000 tonne/year facility comes online in November 2010, company officials said on Sunday.
The company is on schedule to begin displacing PTA imports with 105,000 tonnes/year available to the market well before the original 2013 target, said CEO advisor Sonny Hansen from the sidelines of the 34th annual National Petrochemical and Refining Association (NPRA) meeting.
Delivery of the first equipment - an oxidation reactor, PTA drier and reactor condenser - is expected in northeast ?xml:namespace>
The company's Suape Port Industrial Complex in northeast Brazil will be strategically positioned to supply local and export buyers with 450,000 tonnes/year of polyethylene terephthalate, as well as 240,000 tonnes/year of filament yarn to the domestic market, Hansen said.
The reais (R) $4bn ($1.79bn) site development by the Petroquisa-owned entity will employ around 1,800 operations staff and bring competition to a Brazilian PET market that has otherwise been supplied by Gruppo Mossi & Ghisolfi's 450,000 tonne/year plant in Ipojuca, and also from imports.
Hansen said Petroquimica Suape anticipated the PTA/PET and filament business would be capable of offering prices below the Asian import cost, with added advantages and options for customers in
The company's long term goals include a second plant to be built by 2014, he said.
($1 = R2.29)
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