Alpek, United Petrochemicals JV PTA, PET plant in Russia

Alpek, United Petrochemicals JV for PTA, PET plant in Russia

4:22 AM, 28th September 2013
Alpek, United Petrochemicals JV for PTA, PET plant in Russia

MONTERREY, MEXICO: Grupo Petrotemex, subsidiary of Alpek, and Joint Stock Company United Petrochemical Company (UPC), a subsidiary of Sistema JSFC, signed a joint venture agreement for the construction of an integrated purified terephthalic acid (PTA) – polyethylene terephthalate (PET) plant in Ufa, Bashkortostan, Russia. Alpek and UPC will invest $10 million each in the completion of the plant’s evaluation stage.

Construction is subject to the approval of the business plan by the board of directors of both companies. The new facility would be an IntegRex PTA – PET site dedicated to serve the Russian PET market with a maximum installed capacity of 600 kilo tonne IntegRex PTA and 600 kilo tonne IntegRex PET. An IntegRex license agreement is expected to be signed upon final approval of the JV by all relevant competition authorities.

“We are very excited by the prospect of Alpek’s first venture outside of the Americas, entering the Russian PET market with a world-class partner such as UPC/Sistema. This agreement reaffirms Alpek’s commitment to the PET value chain and demonstrates the great potential of our IntegRex technology as an effective vehicle for international expansion. We are convinced that this partnership will create an unparalleled value offer in the Russian PET market by combining Alpek’s IntegRex technology and polyestervalue chain expertise with UPC’s unique domestic sourcing capabilities and local market knowledge,” said Jose de Jesus Valdez, CEO, Alpek.

 

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