Home / Knowledge / News / Textiles / Sinopec & Far Eastern sign JV for PTA plant
Sinopec & Far Eastern sign JV for PTA plant
09
Dec '11
A subsidiary of Sinopec - Yizheng Chemical Fiber announced a joint venture with Taiwan Far Eastern New Century Corporation to establish a new plant for production of purified terephthalic acid (PTA).

The PTA plant will be set up at a cost of US $600 million and will a capacity of one million tons, which will be expanded to two million tons in the near future.

Far Eastern currently operates two PTA plants, one in Taiwan and the second in Shanghai, China. The combined capacity of the two plants is 1.60 million tons of PTA per year.

Far Eastern is optimistic about the future growth in the Chinese domestic market. The joint venture is named Far East & Yi Chemical, with registered capital of US $250 million, of which, Far East holds 60 percent of the stake, while Yizheng holds 40 percent.

Far Eastern also plans to expand PTA capacity at its plant in Taiwan, which will reach 1.5 million tons in 2014. Coupled with the new proposed PTA plant, PTA capacity under Far Eastern will reach 5 million tons by 2014.

It is expected that Far Eastern will become the number one Asian PTA producer, once all the capacities are operational.

Sinopec the other partner in the new JV will supply paraxylene (PX) for the proposed new PTA plant. Far Eastern currently sources its raw materials from Sinopec.

Yizheng Chemical Fiber mainly produces and sells polyester chips and polyester fiber and also produces PTA, which is the main raw material for polyester fibre.

Fibre2fashion News Desk - China


Must ReadView All

UNIDO, eWTP discuss strengthening ties to back e-commmerce

Textiles | On 25th Apr 2018

UNIDO, eWTP discuss strengthening ties to back e-commmerce

United Nations Industrial Development Organisation director general...

Courtesy: HueTrap

Apparel/Garments | On 25th Apr 2018

Making sustainability affordable is a big challenge

In a lot of instances, being sustainable comes with an additional...

Courtesy: Formosa Petrochemical Corporation

Textiles | On 25th Apr 2018

Formosa to set up petrochemical plant in Louisiana

Formosa Petrochemical Corporation has selected St. James Parish in...

Interviews View All

Top executives
Textile industry, India

The event should be organised every year

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search