China’s Hengli Group targets end-July start-up for PTA unit

09 May 2012 07:09  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Hengli Group is targeting end-July start-up for its new 2.2m tonne/year No 1 purified terephthalic acid (PTA) unit in Dalian and has no plans to delay it to the fourth quarter of this year, a company source said on Wednesday.

“We also plan to start-up the No 2 unit two months after starting up the No 1 unit,” the source added.

He dispelled an impression that there was going to be a delay in the start up.

The No 2 PTA unit also has a design capacity to produce 2.2m tonnes/year and is located in Dalian, Liaoning province.

The company continues to be on the look-out for competitively priced feedstock paraxylene (PX) shipments to build inventory levels ahead of the targeted start-up, the source said.

“Taking into consideration the prevailing PTA prices, I will be interested to buy PX cargoes at $1,500/tonne CFR (€1,155/tonne) (cost and freight) China,” the source said.

Other bids for spot PX June shipments were at $1,525/tonne CFR Taiwan/Ningbo against offers at $1,535/tonne CFR Taiwan/Ningbo.

($1 = €0.77)

By: Bohan Loh
+65 6780 4359

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