PET resin project proposed in South Carolina

By Frank Esposito
Senior Staff Reporter

Published: March 27, 2014 4:46 pm ET
Updated: March 27, 2014 4:49 pm ET

Related to this story

Topics United States, Materials Suppliers

More PET resin capacity might be headed to an already oversupplied North American market.

A pair of South Carolina publications have reported that an unnamed company based outside of North America plans to build a major PET plant in Charleston. That information became public when Cooper River Partners LLC — which owns the Bushy Park Industrial Complex there — filed a request with the Army Corps of Engineers to fill more than 10 acres of freshwater wetlands at the site, according to the Charleston (S.C.) Post & Courier.

The firm also wants to build a private marine terminal, install a rail spur and dredge about 93 acres to accommodate ocean-going ships, the paper said. The project is expected to create 700 new jobs and could have almost one billion pounds of annual PET capacity.

Cooper River Partners executive Marc Fetten told the paper that his firm had been working on the project for two years. “Our attitude is that we don’t file for permits unless we have a good degree of certainty these things will happen,” he said.

A story in Charleston-based business magazine SCBIZ added that the facility’s manufacturing processes will use a new technology that relies on sugarcane as the raw material rather than fossil fuel inputs.

DAK Americas LLC already makes PET in the area at its Cooper River plant. That site had made polyester fibers and added PET production in 2003.

The announcement comes as a bit of a surprise, since market watchers have estimated that the North American PET market already is oversupplied by at least 1 billion pounds. Bottles made with PET have become much thinner in recent years and consumption of carbonated soft drink has been flat to negative.

These conditions already had led market watchers to question North American PET expansions planned by Indorama Ventures Public Co. Ltd. and M&G Group. Indorama plans to build a new plant with 1.2 billion pounds of annual capacity in Decatur, Ala., with an opening date of late 2015. M&G intends to build a massive new PET plant in Corpus Christi, Texas. That plant — with 2.2 billion pounds of annual capacity — is expected to open sometime in 2016.


Comments

PET resin project proposed in South Carolina

By Frank Esposito
Senior Staff Reporter

Published: March 27, 2014 4:46 pm ET
Updated: March 27, 2014 4:49 pm ET

Post Your Comments


Back to story


More stories

Image

RPC expansion provides the space needed for continued growth

September 22, 2014 11:46 am ET

MORGANTOWN, PA. — Success, over time, created a challenge for RPC Bramlage-Wiko USA Inc. in this rural Eastern Pennsylvania town....    More

Image

TenCate materials help new amphibious sport aircraft take off

September 22, 2014 4:13 pm ET

TenCate Advanced Composites is supplying materials used in a new consumer sport plane made by ICON Aircraft.    More

Image

Sometimes the headline doesn't match the story

September 22, 2014 2:56 pm ET

If you want an idea of why some people think plastic packaging is dangerous, check out this story.    More

Image

Breakaway success in Hollywood means growth for Smooth-On

September 22, 2014 1:30 pm ET

With the company “bursting at the seams” according to its co-owner, Smooth-On Inc. is moving from an 80,000-square-foot facility to a...    More

Image

Consumers want more function, less waste from their caps

September 22, 2014 11:35 am ET

In our daily lives, we always want more from the products we use, and dispensing taps and fitments can be a key part of that equation.    More

Market Reports

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook – North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events