18 June 2013 04:12 [Source: ICIS news]
SINGAPORE (ICIS)--BP Zhuhai has secured approval from China’s National Development and Reform Commission (NDRC) to build a new 1.25m tonne/year purified terephthalic acid (PTA) plant, a part-owner of the Chinese firm said on Tuesday.
The yuan (CNY) 4.1bn ($669m) plant will be BP Zhuhai’s third PTA unit and will be built at the same site as the company’s two existing PTA plants in Guangdong province, according to a statement from Zhuhai Port Co, which holds a 15% stake in BP Zhuhai.
The proposed 1.25m tonne/year plant will be the world’s biggest PTA line in terms of individual capacity to date.
The project is still pending approval from China’s Ministry of Commerce, Zhuhai Port said.
BP Zhuhai is a joint venture between UK energy giant BP and Zhuhai Port.
($1 = CNY6.13)
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