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

Barington may force a vote for Omnova board at annual meeting

January 28, 2015 3:52 pm ET

It looks like the battle between Omnova Solutions and an activist investor is heading to a vote.    More

Image

PolyOne sees sales, earnings per share climb, profit decline

January 28, 2015 3:00 pm ET

North American compounding leader PolyOne Corp. posted record adjusted earnings per share in 2014, even as the firm's sales saw modest growth and its ...    More

Image

China XD to catch up on Sichuan project

January 28, 2015 2:41 pm ET

Automotive compounder China XD Plastics Co. Ltd. (Nasdaq: CXDC) has been working on its fourth production base in Nanchong, Sichuan province since...    More

Image

Sika opens negotiations to acquire Axson Technologies

January 28, 2015 12:17 pm ET

Specialty chemicals maker Sika AG has entered into exclusive negotiations with Axson SAS management and shareholders to acquire its epoxy and...    More

Image

Piovan buys majority stake in Italy's Penta

January 28, 2015 12:04 pm ET

Italian auxiliary equipment company Piovan SpA has acquired a majority stake in the Italian materials handling company Penta srl, based in Poggio Rena...    More

Market Reports

Plastics in Automotive: Innovation & Emerging Trends

This special report newly released by PN and sponsored by The Conair Group examines current trends in the use of plastics in automotive, materials innovations and the changing landscape. It includes a review of legislative/regulatory activity impacting vehicle development and lightweighting, market opportunities & challenges for mold and toolmakers, innovative design strategies being implemented by major OEMs and suppliers, as well as a review of key indicators in Canada, Mexico, Brazil and China.

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

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Upcoming Plastics News Events

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

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

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

More Events