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

Bankruptcy court confirms GSE reorganization plan

July 29, 2014 4:01 pm ET

The U.S. Bankruptcy Court in Wilmington, Del., has confirmed the reorganization plan for geomembranes maker GSE Environmental Inc.    More

Image

Vinyl siding's lead slips, but industry pushing back

July 29, 2014 2:04 pm ET

Vinyl siding continues to be the top cladding choice for home builders and remodelers but fiber cement is gaining ground — at an alarming rate...    More

Image

Universal Polymer beefing up capabilities through acquisition

July 29, 2014 12:04 pm ET

Universal Polymer & Rubber Ltd. is growing again and adding to its capabilities, this time via another acquisition and a plant expansion.    More

Image

Reynolds considering sale of Closure Systems International unit

July 29, 2014 10:32 am ET

Packaging giant Reynolds Group Holdings Ltd. has put its closures business under review.    More

Image

Carbon black supplier Orion begins trading on NYSE

July 29, 2014 11:29 am ET

Orion Engineered Carbons S.a.r.l. has priced the initial public offering of 19.5 million common shares at a price to the public of $18 per share.    More

Market Reports

Plastics Recyclers Data Report & Directory

This exclusive MS Excel database contains all the companies from Plastics News' ranking of top North American Recyclers and Brokers by reprocessed volume and also includes a directory with materials processes, services offered and company contact information. Data is based on primary research by PN editorial staff.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

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

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

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

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

More Events