China launches investments in Belarus

Richard Higgs
EUROPEAN PLASTICS NEWS

Published: July 21, 2014 10:10 am ET
Updated: July 21, 2014 10:14 am ET

Related to this story

Topics Materials, China, Europe, Materials Suppliers

China is preparing to invest in a major bottle grade PET production project planned by the Belarus PET and polyester fibers producer Mogilevkhimvolokno to start up by 2016.

As part of a bi-lateral strategic partnership between the countries, Belarus invited the Chinese government to join in the construction of a new 200,000 metric tons per year PET plant at the state-owned polyester firm’s site in Mogilev, Belarus.

A draft partnership contract is being drawn up following a visit to Belarus by a top level Chinese delegation in June. Belarus Prime Minister Mikhail Myasnikovich invited further discussion on details of the project when he met Chinese government members in the Belarus capital Minsk.

Belarus has already sealed a separate infrastructure investment deal with China to create the Chinese-Belarusian Industrial Park in the Smolevichi District near Minsk. Occupying 8,048 hectares the site will initially employ 25,000 people. The foundation stone was laid at a ceremony last month.

A Chinese partner company in the Szao Industrial Park Development, responsible for creating the Smolevichi park, is CAMC Engineering which is also reported to be involved in a fledgling PET joint venture with Mogilevkhimvolokno, according to Belarus media.    

Mogilevkhimvolokno, an offshoot of the state petrochemicals group Belneftekhim, aims to upgrade and expand its polyester production. The PET facility is one element of a new integrated PET and polyester fibres complex it plans, upgrading technology from a dimethyl terephthalate (DMT) raw material base to terephthalic acid (PTA).     

Mogilevkhimvolokno already signed an upstream partnership deal with the Kazakhstan oil and gas producer KazMunayGas (KMG) for the supply of intermediate paraxylene, required by the Belarus polyester complex.


Comments

China launches investments in Belarus

Richard Higgs
EUROPEAN PLASTICS NEWS

Published: July 21, 2014 10:10 am ET
Updated: July 21, 2014 10:14 am ET

Post Your Comments


Back to story


More stories

Image

Best Places To Work: No. 3, Sun Plastech Inc.

March 3, 2015 2:25 pm ET

Sun Plastech Inc., No. 3 on Plastics News' Best Places to Work ranking, offers so many interesting benefits and perks, it's hard to know where to...    More

Image

Bayer expands with acquisition of Germany's Thermoplast Composite

March 3, 2015 10:59 am ET

Bayer AG's Bayer MaterialScience LLC has bought composite materials specialist Thermoplast Composite GmbH based near Nuremberg, Germany.    More

Image

Bayer MaterialScience spinoff on schedule

March 3, 2015 10:14 am ET

The head of Bayer AG said the group still must decide the details to spin off its Bayer MaterialScience plastics group this year.    More

Image

Plastics News Europe to launch in April

March 3, 2015 9:15 am ET

European Plastics News will become Plastics News Europe in April, starting an exciting new era of top quality coverage of Europe's plastics industry.    More

Image

Lower oil prices will continue to impact PE, PP resin pricing

March 2, 2015 2:05 pm ET

Lower oil prices will continue to affect North American markets for polyethylene and polypropylene resin in the months ahead.    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events