Korean major SK Chemicals’ 140,000tpa PET plant has come on stream in Wloclawek, Poland at an invetsmnet outlay of E70m. This plant is SK Chemicals’ first PET facility in Europe and the largest Asian investment in Poland’s chemical industry. The plant is to be operated by SK Eurochem, a joint venture between SK Chemicals (holding 64% stake), PKN Orlen (17% stake), LG International (10% stake) and the European Bank for Reconstruction and Development (9% stake).
Poland currently imports over 40% of its PET resin requirement, majorly from Germany. The new plant will tilt the trade balance in favour of Poland, as the country begins to export over 60% of the plant’s output.
With this investment, the Korean group’s competitiveness in Europe will get a boost by reducing logistics costs and remove EU import tariffs on its PET products. SK Chemicals is also studying the feasibility of adding a second PET unit with a capacity of 200,000tpa.
11-Jun-05 
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