China’s CNCEC plans to build polyester, nylon, PTA plants

01 April 2011 08:07  [Source: ICIS news]

GUANGZHOU (ICIS)--China National Chemical Engineering Co (CNCEC) plans to build a polyester and nylon (or polyamide) complex and a 1m tonne/year purified terephthalic acid (PTA) plant at Nanchong in Sichuan province, the company said on Friday.

The polyester and nylon complex consists of eight units which can produce 500,000 tonnes/year of polyethylene terephthalate (PET), 60,000 tonnes/year of polytrimethylene terephthalate (PTT), 60,000 tonnes/year of polybutylene terephthalate (PBT), 270,000 tonnes/year of hexamethylene, 220,000 tonnes/year of adipic acid/cyclohexanol, 110,000 tonnes/year of caprolactam/cyclohexanone, 40,000 tonnes/year of nylon 66 and 100,000 tonnes/year of nylon 6, according to a company disclosure to the Shanghai Stock Exchange.

A joint venture company between CNCEC, its subsidiary China Chengda Engineering and an undisclosed third party would be established to operate the polyester and nylon project, with each holding a stake of 38.5%, 31.5% and 30%, respectively, CNCEC said.

The project would involve a total investment of yuan (CNY) 10.1bn ($1.5bn) and construction will take around three years.

The PTA project is estimated to cost CNY4.2bn and take about 30 months for construction. To operate this unit, another joint venture would be set up between CNCEC, China Chengda Engineering and PetroChina’s subsidiary Sichuan Petrochemical, with interests of 45%, 35% and 20% respectively, according to CNCEC.

All those facilities would be located in Nanchong Petrochemical Industrial Park and source its feedstocks, such as benzene, paraxylene (PX), monoethylene glycol (MEG), propanediol (PDO) and 1,4-butanediol (BDO) primarily from Sichuan Petrochemical, which is constructing a 10m tonne/year refinery, a 800,000 tonne/year cracker and various derivatives plants in Chengdu, the capital of Sichuan.

Output from the facilities would be primarily supplied to Sichuan and its surrounding areas, the company said.

The time schedule for construction and start up of the plants has not yet been decided as they are still pending government approvals, the disclosure said.

($1 = CNY6.54)

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By: Fanny Zhang
+65 6780 4359



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