16 December 2016
The Project of POLYESTER PLANT IVANOVO is provided with raw materials for the production of the textile grade PET products.

Joint meeting of the Russian Union of Chemical Industry Industrialists and Entrepreneurs and those of Russian Union of the Textile and Light industry was held on December 14th in Moscow. Mr Igor Sabaev, the Commercial director of "POLYESTER PLANT IVANOVO", attended the event.

The meeting was devoted to the creation of the domestic raw material base of chemical fibers and yarns for the innovative development of the textile and light industry.

Igor Sabaev addressed the issue of supplying the Project of the construction the textile grade production plant with raw materials - monoethylene glycol (MEG) and terephthalic acid (PTA). He noted that the supply of MEG is a settled issue. The framework agreements for the supply of about 65 thousand tonnes of MEG per year were signed with SIBUR and Nizhnekamskneftekhim " - underlined Mr. Sabaev.

According to Igor Sabaev, the "Polief" Company, that is PJSC of "SIBUR Holding", is the only Russian producer of PTA at the moment and they utilize almost the entire volume of PTA at their own production. Today, the company is considering an increase of acid production by 100 thousand tons per year with the provision of that amount to the market.

"If there is PTA of corresponding purity and at a competitive price at Russian market, the PET plant will tend to purchase that very product. Deficient amounts are expected to be imported", - Mr. Sabaev said at a meeting of RSPP.

In addition, he emphasized that the leadership of the "POLYESTER PLANT IVANOVO" met with some producers and sellers of raw materials and saw no problems with the signing of contracts in the future. "Our volumes of consumption are interesting for Asian suppliers. The most interest is shown by Korean manufacturers. We have already signed the agreement with POSCO DAEWOO Co. for the entire demanded volume of PTA - 155 thousand tons per year ", - Mr. Sabaev said. In the near future, it is expected to consider the investment project of construction of the complex on the PET Vnesheconombank's Supervisory Board and a decision on lending.

Let us recall that the «POLYESTER PLANT IVANOVO" is implementing a project of constructing the first Russian textile grade PET production plant. The design capacity of the Plant is up to 205 thousand tons per year of staple polyester fiber and textile chips. The total cost of the project will exceed 20 billion rubles. The project will create over 550 new high efficient working positions. The Project is pending review of the Supervisory Board of VEB in the nearest future and the decision about lending the loan.

Source: ivanovoobl.ru