31 May 2012 09:20 [Source: ICIS news]
SINGAPORE (ICIS)--China's Zhejiang Hengyi Group plans to commence commercial production at its new 1m tonne/year polyethylene terephthalate (PET) bottle-grade chips plant in Hainan province in the fourth quarter of 2012, a company source said on Thursday.
The new PET plant will consist of two continual poly-condensation lines and four solid state poly-condensation lines, according to the source.
Further details on the plant were not immediately available.
The plant will bring Zhejiang Hengyi’s total PET bottle-grade chip capacity to 1.25m tonnes/year.
The company’s 250,000 tonne/year PET bottle-grade chip line in Zhejiang is operating at 100% capacity.
PET bottle chip prices were assessed at $1,380-1,400/tonne (€1,118-1,134/tonne) FOB (free on board) China on 25 May, down by $35-40/tonne week on week, ICIS data showed.
($1 = €0.81)
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