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

Two slabs of GST will affect Bengaluru garment units: SIGA

Apparel/Garments | On 23rd Jan 2018

Two slabs of GST will affect Bengaluru garment units: SIGA

The South India Garment Association (SIGA) has voiced its concern...

US FTC updates textile rules to drop obsolete requirement

Textiles | On 23rd Jan 2018

US FTC updates textile rules to drop obsolete requirement

The US Federal Trade Commission has eliminated an obsolete provision...

Indian textile industry at inflection point: Report

Textiles | On 23rd Jan 2018

Indian textile industry at inflection point: Report

The textile and apparel sector of India is at an inflection point...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Vikas Banduke

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

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

January 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
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

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
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

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
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

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
8.2%
Skip
9.3%

Total Votes: 97


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