Sri Lankan PET project will back-integrate to PTA manufacture

Hambana Petrochemicals ltd. (HPL; Colombo), a company owned by Peak Energy (Singapore), says its previously announced polyethylene terephthalate (PET) plant will be build in the Magam Ruhunupura Mahinda Rajapaksa Port (MRMRP) at Hambantota, Sri Lanka . The company, which recently signed an agreement with the Sri Lankan Ports Authority (SLPA), says the facility will be the largest PET plant in the world.  It will have capacity for 540,000 m.t./year of PET resin and is expected onstream in January 2015. The investment cost has been put at about $140...

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