Hainan Yisheng's PTA project suspended on environmental grounds

26 April 2012 09:50  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Hengyi Petrochemical said on Thursday its 2.1m tonne/year purified terephthalic acid (PTA) project, being built in Hainan province, was suspended by the local government.

The project, which is the largest being built in China, has yet to secure environmental clearance, the company said in a filing to the Shenzhen Stock Exchange.

The project is jointly invested by Hengyi Petrochemical and Zhejiang Rongsheng Holding Group. It started construction in August 2011.

Construction would resume as soon as the project secures approval from the local environmental authority in Hainan province, Hengyi Petrochemical said.

Hengyi Petrochemical and Zhejiang Rongsheng are leading PTA and polyester producers in China.

By: Rachel Yang

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