BP signs agreement with municipal government in Zhuhai, China, for construction of US$600M, 1.25 million tonnes/year PTA plant in Guangdong province, company's third at site; JV BP Zhuhai to operate plant
November 14, 2011
– BP and the municipal government of Zhuhai, China have signed a framework contract agreement to construct a US$600 million, 1.25 million tonnes per year purified terephthalic acid (PTA) plant in Guangdong province, ICIS news reported Nov. 14.
The proposed plant will be BP’s third plant at the site, which is operated by the company’s joint venture with China’s Zhuhai Fuhua Group, BP Zhuhai.
BP expects construction to begin in the first quarter of 2012 with operations set to start in the first quarter of 2014. When the third plant comes online it will boost BP Zhuhai’s total PTA capacity to
China’s National Development and Reform Commission must still approve the proposed project.
The primary source of this article is ICIS news, Surrey, England, on Nov. 14, 2011.