Home / Knowledge / News / Textiles / Sinopec & Far Eastern sign JV for PTA plant
Sinopec & Far Eastern sign JV for PTA plant
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

Textiles | On 24th Jun 2017

Applied DNA to tag cotton for 2017/18 US ginning season

Applied DNA, provider of DNA-based supply chain security,...

Apparel/Garments | On 24th Jun 2017

NPD Group launches Trend Tracker for apparel trends

Global information company the NPD Group has launched Trend Tracker,...

Textiles | On 24th Jun 2017

Cotton USA’s first innovation competition in UK ends

Cotton USA has announced the successful close to its first innovation ...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marcel Alberts

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
June 2017

June 2017

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


Browse Our Archives


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