03 July 2013 15:27 [Source: ICIS news]
MOSCOW (ICIS)--SIBUR confirmed plans to raise the capacity of its polyethylene terephthalate (PET) plant POLIEF, based in the Bashkortostan region, by next year, Russian major petrochemical company SIBUR on Wednesday.
PET capacity at the POLIEF site is expected to rise from the current 140,000 tonnes/year up to 210,000 tonnes/year, the company said, with commercial operations scheduled to begin in the first half of 2014.
POLIEF also currently has the capacity to produce 250,000 tonnes/year of terephthalic acid.
At the moment, "100% of the production equipment has been installed, and 50% of the construction work has been finished," SIBUR added.
"This project will allow POLIEF to process its own terephthalic acid into high value-added products and to replace imports in some Russian PET market segments.
“Despite current tightening of spreads between feedstock and finished product prices in the global PET market, the Russian market has substantial growth potential. In 2012, Russia produced about 453,000 tonnes of PET and imported 185,000 tonnes,” the company said.
POLIEF started construction works aimed at raise its PET capacity in October 2012.
SIBUR is the major shareholder of POLIEF; with a 17.5% interest held by the Bashkortostan Government.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections