200–Million–$ Petrochemical Invest BP Boosts Petrochemical Branch with 200 Million Dollars
Oil multinational BP invests bidg sums in its petrochemicals business: The British company plans to spend US $ 200 million on two PTA plant upgardes in Europe and the US.
London/United Kingdom – According to BP Aromatics President Luis Sierra, the company plans to invest over $200 million to upgrade its purified terephthalic acid (PTA) plants at Cooper River, South Carolina/USA and Geel, Belgium. The investments will position these assets amongst the most efficient PTA manufacturing facilities in the world, BP believes.
"This allows us to apply our latest proprietary technology and process know-how to existing assets, significantly improving their cost competitiveness and reducing their environmental footprint," said Sierra. "It enables Cooper River and Geel to remain the leading PTA manufacturing complexes in the Americas and Europe respectively."
PTA is the raw material used to make polyester which is found in a wide range of consumer goods ranging from fabrics to food and beverage containers. The BP Cooper River site is the largest PTA producer in the Americas and BP Geel is the largest in Europe. Cooper River's PTA1 unit, one of two units at the facility, is expected to be upgraded by mid 2016. Geel's PTA3 unit is expected to be upgraded by the end of 2015 with PTA2 following in 2016.