BP, JBF agree build new PET facility in Geel, Belgium

BP, JBF agree to build new PET facility in Geel, Belgium

3:10 PM, 5th August 2011
BP, JBF agree to build new PET facility in Geel, Belgium
BP site in Geel, Belgium.

LONDON, UNITED KINGDOM: BP agreed with JBF RAK LLC to build a new 390,000 tonne per year polyethylene terephthalate (PET) production unit in Geel, Belgium.

JBF will build and operate this PET unit on BP’s existing petrochemicals complex in Geel, adjacent to BP’s purified terephthalic acid (PTA) facility. BP will in return supply PTA directly to this new PET manufacturing unit. Start up of the unit is scheduled in 2014.

“We are delighted that JBF has decided to invest in Geel. This new PET plant leverages BP’s scale, technology and location advantages at Geel to deliver a competitively integrated PX-PTA-PET manufacturing complex in Europe. Such a complex will help maintain and develop BP’s position in the region,” said Frederic Baudry, VP, Petrochemicals Europe, BP.

“This agreement demonstrates that our region can attract significant investments by looking for synergies with foreign investors. Avoiding unnecessary PTA transportation in PET supply chain, we create a sustainable and long term anchorage for PTA and PET production in Geel,” said Patrick Van Acker, Manufacturing Director, Geel, BP.

(C) WOC News



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