India's JBF plans new PET plant at BP Belgium site
India-based joint venture JBF RAK has entered into an agreement with BP to build a new 390,000 tpy polyethylene terephthalate (PET) production unit at BP’s petrochemical site in Geel, Belgium.
The agreements provide JBF rights to build and operate this PET unit on BP’s existing petrochemicals complex in Geel, adjacent to BP’s world-class purified terephthalic acid (PTA) facility.
BP will in return supply PTA directly to this new PET manufacturing unit.
Startup of the unit is scheduled for 2014.
Frédéric Baudry, vice president of BP Petrochemicals Europe, said: “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 and underpins BP’s long term commitment to its merchant customers.”
Patrick Van Acker, manufacturing director of BP Geel, added: “This agreement demonstrates that our region can attract significant investments by looking for synergies with foreign investors.
“Moreover, by avoiding unnecessary PTA transportation in the PET supply chain and by reducing the corresponding environmental impact, we create a sustainable and long term anchorage for PTA and PET production in Geel.”
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