13 May 2010 07:52 [Source: ICIS news]
MUMBAI (ICIS news)--Jianyin Chengxin Industrial Group is on track to start commercial production at its 640,000 tonne/year purified terephthalic acid (PTA) facility and will also consider a major expansion in polyethylene terephthalate (PET), an industry source said on Thursday.
The China-based company's $500m (€395/tonne) PTA project, with production technology licensed from US-based Invista, is expected to be mechanically complete by July 18 and launch commercial production two months later, he said on the sidelines of the Asia Petrochemical Industry Conference (APIC) in Mumbai.
"Once we bring our first PTA line on, we will look at expanding our PET capacity, which stands at 200,000 tonnes," said the source.
The company's PTA project and PET plant are located in Jiangyin City in Jiangsu province.
The PET expansion will likely be significantly larger than the current capacity, the source added.
"We want to build a worldscale PET plant to be competitive," he said.
"We are optimistic on PET demand in China for bottles. The number of people with disposable income is growing by leaps and bounds, and I estimate PET demand in China will grow at double GDP growth rates," said the source.
APIC started on 13 May and ends on 14 May.
($1 = €0.79)
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