China's Yisheng Petrochemical new PTA plant gets NDRC’s nod

08 March 2011 08:15  [Source: ICIS news]

SHANGHAI (ICIS)--China’s top economic planning body National Development and Reform Commission (NDRC) has approved a new purified terephthalic acid (PTA) plant by ZhejiangYisheng Petrochemical, a company source said on Tuesday.

The PTA plant with a nameplate capacity of 1.5m tonnes/year is the company’s third PTA plant in Ningbo, eastern Zhejiang province and the new unit could actually produce 1.8m tonnes/year PTA, the source said.

Zhejiang Yisheng Petrochemical currently operates two PTA units at Ningbo with a total capacity of 1.3m tones/year.

The NDRC said it had approved the new PTA plant this February, according to a short announcement on its website on Monday.

The company had almost finished the engineering work and the equipment installation was underway, the source said adding the new plant was expected to start up in July or August this year.

The start-up of the new plant will ease domestic tight PTA supply to an extent, the source said.

Yisheng had another 1.5m tonne/year joint-venture PTA facility at Dalian in northeastern China with Dahua Group.

Yisheng Petrochemical is jointly owned by polyester giants Zhejiang Hengyi Group and Zhejiang RongSheng Group.

With additional reporting by Becky Zhang in Singapore

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By: Judith Wang
+65 6780 4359

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