Sinopec starts production at 3 MMtpy PTA plant
4/11/2024 11:40:00 AM
(Reuters) - Chinese state-owned oil and gas giant Sinopec has started production at a 3 MMtpy PTA plant in eastern Jiangsu province, the company said on Thursday.
The facility has the largest single unit PTA production capacity in the world and required an investment of more than $691 MM, the company said.
China's refiners have invested heavily in petrochemical production capacity in recent years to cater to increased demand from high-end manufacturing industries.
PTA is a petroleum derivative product used to create polyester synthetic fibers used in the production of goods ranging from clothing to solar panels and EVs.
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