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Xinjiang bounces back with planning of 0.5 mn ton PET project

Amid global pandemic outbreak, there comes an encouraging news, for laying down foundation stone on March 29, 2020, for a breakthrough investment Polyester fibre (PET) production with the capacity of 500,000 tons per year in Bayingol Mongolian Autonomous region of Xinjiang.

 Xinjiang bounces back with planning of 0.5 mn ton PET project
 Local leaders and investors are laying down the cornerstone for 500,000 tons/year PET project

The project would be set up inside Korla Petroleum and Petrochemical Industrial Park in the Korla city under Bayingol Mongolian Autonomous Prefecture (region) in Xinjiang Uygur Autonomous Region.

Xinjiang, a far west region of China is the cotton-richest area, with more than four-fifths of cotton production in the country. As per National Bureau of Statistics report, cotton output of 5.002 million tons in 2019 to represent 84.9 percent of total cotton production in China. The new project is of great significance as, except for a very little amount of viscose fiber production the region doesn’t have manmade fiber manufacturing base here. The pioneer PET polyester project will facilitate Xinjiang’s strategy for largely promoting textile and garment development to provide 1 million jobs.  Xinjiang government had initiated an ambitious scheme several years ago to take full advantage of its cotton resources to boost local economy and employment on this far-west land.

Mr. Wang Hongxin, Chairman of Xinjiang Zhongtai Group, said at the ceremony that Zhongtai Group invested heavily in Bayingol Monglian Autonomous Prefecture with aggregate 10 billion Yuan for caustic soda and its value-chain business in the past years and will invest in another four new projects in 2020, and three of which are to be planted right here for 7.5 billion Yuan in total, as one of the four new investment schedules from the Zhongtai Group, including the pioneer PET polyester project.

Xinjiang bounces back with planning of 0.5 mn ton PET

Mr. Lu Zhengping, Chairman of Zhongtai Petrochemical Company in Korla city, told reporters at the ceremony that this polyester project is the first PET project in terms of its size and capacity in Xinjiang, we all know that PET is made from purified terephthalate acid (PTA) and ethylene glycol (EG), and Zhongtai Group has its own PTA production for 1.2 million tons per year, and to line up with it, this new project will start with its overall field construction in April and is expected to finish at the end of 2021, with approx. 3.4 billion Yuan in budget. PET project will have 250,000 tons of filament and 250,000 tons of staple. In an estimation of the social and economic effects, the PET project, when completed, will lead to a sale income for 3.76 billion Yuan, VAT contribution for 57 million Yuan every year and provide 600 direct jobs and boost the conjoint downstream sectors, like spinning, weaving, dyeing and printing, for an employment of over 50,000 people.

It is understood that the PET project is a pivot that connects petrochemical industry with textile and apparel industry and its filament and staple will reshape present composition of raw materials that previously relied predominantly on cotton, making it possible for cotton spinning to update to manufacturing variety of fabrics in cotton-cotton/chemical fiber blends and filament weaving diversity, a milestone for transforming textile industry into a refinery-petrochemical-textile integration not only in Korla city in Bayingol Mongolian Autonomous Prefecture, but also in Xinjiang as a whole.

 

Contributed by Mr. ZHAO Hong 

He is working for CHINA TEXTILE magazine as Editor-in-Chief in addition to being involved in a plethora of activities for the textile industry. He has worked for the Engineering Institute of Ministry of Textile Industry, and for China National Textile Council and continues to serve the industry in the capacity of Deputy Director of China Textile International Exchange Centre, V. President  of China Knitting Industry Association, V. President of China Textile Magazine and its Editor-in-Chief for the English Version, Deputy Director of News Centre of China National Textile and Apparel Council (CNTAC), Deputy Director of International Trade Office, CNTAC, Deputy Director of China Textile Economic Research Centre. He was also elected once ACT Chair of Private Sector Consulting Committee of International Textile and Clothing Bureau (ITCB)

 

 
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