IHS Chemical Week

Alpek, UPC form Russian PET JV

10:35 AM MDT | September 27, 2013

United Petrochemical Co. (UPC; Moscow), a subsidiary of Sistema (Moscow), says that it has signed an agreement with Alpek to form a joint venture to build an integrated purified terephthalic acid (PTA) and polyethylene terephthalate (PET) resins production complex at Ufa, Bashkortostan Republic, Russia. Under the terms of the agreement, lpek and UPC will work on a detailed business plan to determine the project's feasibility in the first phase of planning. Alpek and UPC will each invest $10 million during the evaluation phase. Construction is subject to both...

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