Sector News

Chinese firm to invest in huge polyester complex in Saudi Arabia

June 27, 2017
Chemical Value Chain

Pan-Asia PET Resin (Guangzhou), a subsidiary of Full Apex (Holdings) (Singapore), plans to invest $3.8 billion in a polyester manufacturing complex at Jazan, Saudi Arabia, where Saudi Aramco is building a new refinery and a para-xylene (p-xylene) production facility.

The news follows the signing last year of an agreement between Guangzhou Industrial Development Corp. and the Royal Commission for Jubail and Yanbu to allow foreign direct investment by Chinese businesses in Jazan.

Pan-Asia PET Resin, plans to build plants producing 2.5 million metric tons/year (MMt/y) of purified terephthalic acid, 1 MMt/y of PET resin, and 200,000 metric tons/year each of polyester engineering plastics, thin film and polyester fiber. The company envisages the project’s completion in mid-2020. The commission in March allocated land for the project.

Lin Wencai, vice president of Full Apex (Holdings), says that the project will benefit from proximity to raw materials, with a large p-xylene facility under construction at Jazan and from proximity to markets in the Middle East and North Africa. Aramco has ambitions to become a major petrochemicals producer. It’s Jazan p-xylene facility will be designed for 800,000 metric tons/year.

By Natasha Alperowicz

Source: Chemical Week

comments closed

Related News

February 4, 2023

Eastman acquires performance films company Ai-Red Technology

Chemical Value Chain

Eastman Chemical Co. (Kingsport, Tenn.) announced it has acquired Ai-Red Technology (Dalian) Co., Ltd., a manufacturer and supplier of paint protection and window film for auto and architectural markets in the Asia Pacific region.

February 4, 2023

BASF and StePac partner on chemical recycling MAP packs to fight food waste

Chemical Value Chain

BASF and Israeli packager StePac have joined forces to create the “next generation” of fresh produce packaging. BASF will provide StePac with greater flexibility to advance contact-sensitive packaging formats to a higher sustainability standard by supplying StePac with Ultramid Ccycled – a chemically recycled polyamide 6.

February 4, 2023

TotalEnergies and Intraplás partner on food-grade renewable biopolymer production

Chemical Value Chain

TotalEnergies’ biorefinery in La Mède, France, allows direct access to renewable feedstock for its drop-in RE:newable polymer range derived from bio-based products. The company claims these polymers retain virgin-like properties.

How can we help you?

We're easy to reach