09 October 2012 18:44 [Source: ICIS news]
MEDELLIN, Colombia (ICIS)--Colombian polypropylene (PP) producer Propilco expects sales volumes to hit 406,000 tonnes in 2012, up 8.2% from 375,000 tonnes in 2011, the company's vice-president of planning and strategy said on Tuesday.
As a result, end of year profits are expected to range from Colombian pesos (Ps) 38bn ($21.1m) to Ps 40bn, compared to profits of Ps 32bn in 2011, said Sebastian Zapata.
Propilco, a subsidiary of state oil company Ecopetrol, also expects sales volumes to increase by 6-8% in 2013.
According to Zapata, sales are being driven by an increase in exports of PP to Peru, Ecuador and Central America.
The company is also making inroads into the African, European and Asian markets, he said.
“We’re looking to set a new record this year for exports,” Zapata said. “However, our main priority is to continue focusing on the Colombian market.”
The plant in northern Colombia will have an annual propylene production capacity of 300,000 tonnes and should be operational by mid-2016, the company said.
Propilco is Colombia’s only PP producer.
(Ps 1 = $0.00055)
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