EIPET to launch a second PET line at a new plant in Egypt in mid-March
MOSCOW – EIPET, a major Egyptian manufacturer of polyester products and polyethylene terephthalate (PET), plans to launch a second PET line at its new plant in Ain Sokhna (Egypt) in mid-March, an ICIS source told the market.
The capacity of the second line will be 270 thousand tons of PET per year.
According to him, raw materials for the production of PET on the first line of the enterprise, which can produce a total of 540 thousand tons of material per year on two lines, were submitted August 18-19 last year, August 22-24, commercial products were received . And in mid-September of the same year, this line went to full capacity.
Meanwhile, at that time, the second line was not yet launched, the source said.
The new PET plant in Ain Sokhna is a joint venture of Indorama Ventures and Dhunseri (India), managed by the Egyptian EIPET. A new joint venture was created in June last year, he added.EIPET polyethylene terephthalate Egypt
It is planned that the company will supply part of its products to Europe, and the rest of PET will force out imports of material from India and Indonesia. In addition, EIPET can start supplying PET from a new plant to the US market.
Raw materials for this plant in Ain-Sokhna will be supplied by Indorama from the recently acquired Terephthalic Acid (TPA) plant in Portugal.
Initially, the new PET plant in Egypt was scheduled for launch in the first quarter of 2016.
As reported by Market Report, Indorama Ventures Company Ltd (IVL), the world leader in the production of polyethylene terephthalate (PET), at the end of July 2018 announced the acquisition of a 74% stake in Egyptian PET processor – Medco Plast for Packing and Packaging Systems SAE ( Medco). Medco operates a plant for the production of PET preforms with a capacity of 70 thousand tons in Egypt with a market share of 25%. The deal was closed in the third quarter of 2018.EIPET polyethylene terephthalate Egypt
According to Scan Report Company Market Report, in Russia, the total estimated PET consumption in December last year was 63.84 thousand tons, which is 22% higher than the consumption figure for the same month of 2017. In January-December 2018, the total PET consumption in all sectors (casting, fiber filaments, films) exceeded the level of 2017 by 5% and amounted to 695.30 thousand tons.
EIPET is a joint venture (50:50) of Indian Dhunseri Petrochem and Tea and Indorama Ventures Company Ltd (IVL).
Author: Margarita Volkova