BP has signed a strategic cooperation agreement. With one of China’s leading producers of PET (polyethylene terephthalate) plastic. China Resources Chemical Innovative Materials Holdings Limited (CRC). CRC is already a crucial customer for BP’s production of PTA (purified terephthalic acid) in China.
PET may be a sort of polyester plastic, used widely for beverage and food packaging. PTA is one of the key raw materials for its production.
CRC and BP have agreed to explore opportunities to strengthen their co-operation on PTA sourcing and work together along the polyester value chain. They need also agreed to explore further opportunities to figure together. related to this agreement. BP also agreed to take a position in and become a shareholder of CRC.
Global Aromatics Unit
CEO for BP’s Global Aromatics Unit, Luis Sierra, said: “BP and CRC have already got an in-depth and longstanding relationship and that we anticipate putting together thereon further. We will see opportunities. To figure together to streamline and increase collaboration along the polyester value chain, improving flexibility and efficiency, and creating value.”
Managing Director of China Resources Chemical Innovative Materials Holdings Limited, Mr. Zhu Zhenda, said: “BP is CRC’s important strategic partner within the polyester value chain. Through deepened cooperation, we anticipate the effective integration of our resources, bringing advantages for both partners. we’ll work together to develop innovative technologies, new products, and applications for our customers in the future.”
Established in 2007, CRC may be a leading producer of non-fiber-grade polyester. With production centers based in Changzhou, Jiangsu province, and Zhuhai, Guangdong, its manufacturing facilities have an annual capacity of two .2 million tonnes of PET. With its high-quality research and development capability, CRC is additionally exploring the development of advanced downstream products, like polyethylene terephthalate glycol (PETG).
BP may be a global leader within the production of PTA with its own highly efficient proprietary technology. With the current annual production capacity of two .4 million tonnes. Its Zhuhai plant in southern China is BP’s biggest PTA production site globally. The technology is more energy-efficient, uses less water, and produces less solid waste than similar technologies on the market.
BP’s PTA technology also has significantly lower capital and operating costs in comparison with other PTA technologies.
BP has also recently developed an enhanced recycling technology, BP Infinia, that permits currently unrecyclable PET plastic waste to be transformed back to new. Virgin-quality feedstocks. it’s constructing a pilot plant to prove the technology.