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PET plant to be set up in Russia's Kabardino-Balkaria
14
Dec '11
A tripartite agreement has been singed to set up a plant for the production of polyethylene terephthalate (PET) for textile industry in Kabardino-Balkaria, located in the North Caucasus region of Russia.

The deal signed by the government of Kabardino-Balkaria and two companies – ThyssenKrupp and Ethan – involves investment in the region to build a plant for manufacturing of pure polymers.

The plant will be set up with an investment of 15 million rubles and will have a capacity to produce 486,000 tons per year of PET, used in the textile industry for production of synthetic fibres, Ivan Gerter, Head of the Government, said.

The plant will not pose a risk to the residents or the environment, according to Sergey Ashin, General Director of Ethan. The project will generate 2,500 new employment opportunities and is scheduled to be completed by 2015, he added.

Fibre2fashion News Desk - India

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