Hengyi Petrochemical Raising Funds To Build PTA Plant, Other Projects

摘要

Shanghai-Hengyi Petrochemical plans to issue 65-million shares in a private placement that it anticipates will raise 3-billion yuan to be used for construction of a new purified terephthalic acid (PTA) plant, as well as other new facilities, according to local financial reports. The PTA plant will have 1.5-million t/y of capacity and is expected to take two years to complete. Hengyi, in a joint venture with the Rongsheng and Dahua Groups, in 2009 started up a 1.5-million-t/y PTA plant in Dalian, Liaoning Province, China (PCN, 10 Aug 09, p 4).