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Nan Ya Plastics pushes back start-up of Texas MEG plant to late 2020 or early 2021

May 19/2020

MOSCOW (MRC) -- Nan Ya's 800,000 mt/year monoethylene glycol (MEG) plant in Texas is expected to come online by late 2020 or early 2021 rather than the third quarter of 2020, reported S&P Global with reference to a source familiar with company operations.

The company did not respond to a request for comment Friday.

According to Formosa Plastics USA, Nan Ya suspended construction on the project at Formosa's Point Comfort, Texas, complex in March on coronavirus pandemic-related concerns to ensure worker safety and social distancing. The company has not publicly disclosed a new startup timeline.

The facility's startup was originally expected to come in the first half of this year, and later pushed back to Q3.

The latest delay on pandemic concerns came as US supply was seen ample after 1.7 million mt/year of additional MEG capacity came online in 2019.

MEG is used to manufacture downstream polyethylene terephthalate (PET), a resin that makes plastic bottles, as well as polyester fibers and antifreeze.

MEG is one of the main feedstocks for the production of polyethylene terephthalate (PET).

As per MRC's ScanPlast report, March estimated PET consumption in Russia was 65,3700 tonnes, up by 1% year on year. Russia's estimated PET consumption decreased  in January-March 2020 by 3% year on year to 175,170 tonnes.

Formosa Petrochemical is involved primarily in the business of refining crude oil, selling refined petroleum products and producing and selling olefins (including ethylene, propylene, butadiene and BTX) from its naphtha cracking operations. Formosa Petrochemical is also the largest olefins producer in Taiwan and its olefins products are mostly sold to companies within the Formosa Group. Among the company's chemical products are paraxylene (PX), phenyl ethylene, acetone and pure terephthalic acid (PTA). The company's plastic products include acrylonitrile butadiene styrene (ABS) resins, polystyrene (PS), polypropylene (PP) and panlite (PC).
Author:Margaret Volkova
Tags:monoethylene glycol (MEG), PET-granulate, packaging, Formosa, Nan Ya Plastics, Rossiya, USA.
Category:General News
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