A polyethylene terephthalate (PET) and its processing plant will be established in the Ivanovo region of Russia, as an agreement has been signed between JSC Cluster Textile Corporation Iverginsintez and EPC Engineering Consulting GmbH, in presence of Mikhail Men, Governor of the Ivanovo region and other dignitaries.
The setting up of modern PET processing plant will be an important milestone in the development of the Russian light industry until 2020.
EPC Engineering Consulting has extensive know-how in creating modern chemical industry, especially in the CIS countries. It will install PET staple fibre processing machines and also train personnel to run the installed machines.
The company will also assist in the financing of the synthetic fibre project in association with German banks.
On its part, Russian firm JSC Cluster would be responsible for selecting the site and supplying pipelines as well as other infrastructure for the project, including personnel.