Russia starts construction of new PET plant
18 January 2012 17:27 [Source: ICIS news]
MOSCOW (ICIS)--Russian authorities on Wednesday announced that work has started on the construction of a major import-substitution plant to produce polyethylene terephthalate (PET).
The plant is located near the village of Oktyabrsky in the southern region of Kabardino-Balkariya, where the local government has allocated 100 hectares (247 acres) of land for the new 486,000 tonne/year bottle-grade PET plant, regional authorities said in a statement.
Contractors are building power transmission lines and an 8km (4.97 miles) road to connect the plant with a highway, it said.
The new plant would aim to supply the packaging market in southern Russia, the statement quoted Sergei Ashinov, CEO of the Russian company Etana that operates the project, as saying.
The new plant would cost roubles (Rb) 12.3bn ($390 million) and is due for completion by 2015, the statement said.
The project’s first stage, with a capacity of 162,000 tonnes/year, is due onstream in 2013. The second 288,000 tonne/year stage would be built by 2014 and the plant’s total capacity is scheduled to reach 486,000 tonnes/year in 2015.
In November 2011, the regional government of Kabardino-Balkariya approved state guarantees of Rb1.8bn to support construction of the PET plant.
($1 = Rb31.68)
For more on PET visit ICIS chemical intelligence
By: Sergei Blagov
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