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Indian-Egyptian JV to Build PET Plant

9:08 AM MDT | July 30, 2007 | Chemical Week Editorial Staff

South Asian Petrochem Ltd. (SAPL; Kolkata, India) says it has signed an agreement with Egyptian Petrochemicals Holding Co. (Echem; Cairo) for a joint venture to make polyethylene terephthalate (PET) resin in Egypt. The jv will be named Egypt India Petchem Co. SAPL and a group of unnamed partners will jointly hold 70% in the jv, and Echem and a group of partners will jointly hold the rest. The new company will build a 315,000-m.t./year PET plant at a cost of about $95 million. The plant will be located near a major port on Egypt’s Mediterranean coast, the...

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