04 November 2013 17:04 [Source: ICIS news]
LONDON (ICIS)--Turkey's Koksan has successfully started its new polyethylene terephthalate (PET) plant and will be able to supply commercial material from the middle of next week, a company source said on Monday.
The 216,000 tonne/year facility, in Gaziantep, Turkey, started up on Saturday morning, according to the source.
It had been expected to reach 80% by the start this week.
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 ($1,622/tonne) FD (free delivered) Europe in September to close to €1,100/tonne.
The start-up date was originally set for April 2013, but this 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 = €0.74)
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