06 March 2013 06:29 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Xinjiang Zhongtai Group is planning to invest yuan (CNY) 4.6bn ($740m) to build a 1.2m tonne/year purified terephthalic acid (PTA) plant at Urumqi of Xinjiang province in northwestern China, a company source said on Wednesday.
Construction of the project is expected to start this year and be completed by late 2015, according to the source.
Feedstock paraxylene (PX) will be sourced from PetroChina’s 1m tonne/year PX plant at the same city, added the source.
PTA output will be sold primarily in China’s domestic markets.
($1 = CNY6.22)
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