Turkey's Koksan to sell PET from new plant by early November

30 October 2013 15:12  [Source: ICIS news]

LONDON (ICIS)--Turkey's Koksan should have marketable polyethylene terephthalate (PET) for sale from its new plant in Gaziantep, Turkey, by early November, a company source said on Wednesday.

"We are planning to start up tomorrow or on Friday. By [the] middle of next week we will have marketable product," the source said. It added that the start-up would be on Thursday, or Friday at the latest.

Operating rates at the 216,000 tonne/year plant are expected to reach 80% by the week beginning 4 November, he added.

This is the low season for PET bottlers in Europe and a flurry of cheap imports and softer feedstock prices has brought the price of PET crashing down from well over €1,200/tonne ($1,644/tonne) FD (free delivered) Europe in September to close to €1,100/tonne.

"At the moment demand [for PET] is not good enough. Our preform exports are very good," the source said.

The start-up date was originally set for April 2013, but was delayed to mid-June because of technical reasons, and then again to mid-August, September and finally the end of October.

A second, identical, line is still on schedule to start up in 2015. Although building has yet to start on this project, the facilities are all in place to service both lines.

($1 = €0.73)

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By: Caroline Murray
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