01 December 2009 08:34 [Source: ICIS news]
SHANGHAI (ICIS news)--China’s Zhejiang Hengyi Group Co and Zhejiang Rongsheng Holding Group will invest yuan (CNY) 5.6bn ($820m) to build a purified terephthalic acid (PTA) plant at Yangpu Economic Development Zone, Hainan province, a Development Zone official said on Tuesday.
The 2m tonne/year plant, set to be the largest PTA plant in China, would come on stream in 2012, the official said.
Preliminary construction work at the site, including land levelling, started in early November, the source said.
"Feedstock paraxylene (PX) will be supplied by Hainan Refining & Chemical Company at the same site," the official said.
PTA is a fibre intermediate used in polyester production.
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