26 September 2013
Details
Alpek, S.A.B. de C.V.
announced that its subsidiary,
Grupo Petrotemex, S.A. de C.V.
signed a joint venture agreement with
Joint stock company United Petrochemical Company (UPC),
a subsidiary of Sistema JSFC,
for the construction of an integrated
PTA (Purified Terepthalic Acid) and
PET (Polyethylene Terepthalate)
plant in Ufa, Bashkortostan, Russia.
Under the joint venture agreement, Alpek and UPC
* will elaborate a detailed business plan
to determine the project's feasibility study and
* will invest $ 10 million each
in the completion of the plant's evaluation stage.
Construction is subject to the approval of business plan
by the Board of Directors of both companies.
About the new planned PTA-PET facility
- The new facility would be a PTA-PET site
dedicated to serve the Russian PET market
with a maximum installed capacity of
* 600 kt PTA and
* 600 kt PET
- Paraxylene would be sourced domestically,
PX negotiation is underway with JSOC Bashneft,
a subsidiary of Sistema and
one of the largest private Russian oil companies.
Alpek,
Jose de Jesus Valdez, CEO
- 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 PTA-PET technology as
an effective vehicle for internation expansion.
- We are convinced that
this partnership will create an unparalled value offer to
the Russian PET market by combining
* Alpek's PTA-PET technology and polyester value chain expertise with
* UPC's unique domestic sourcing capabilities and
local market knowledge.
United Petrochemical Company,
Kirill Tyurdenev , President
- We are pleased to have signed the agreement with Alpek
on the PET project.
- The project give us access to unique Alpek's PTA-PET technology and
new opportunity to supply our PET products to the fast growing Russian
and international petrochemical markets.
- UPC is looking forward
* to a long and successful business partnership with Alpek, as well as
* to the perspective to increase PTA/PET production in the nearest future
and deepen our footprint in Russia.
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