BP and JPF RAK to build co-located PET facility in Belgium

Oil and gas company BP has entered into agreements with JBF RAK LLC under which the Indian company will build a new 390,000-tonne-per-year polyethylene terephthalate (PET) production unit in Geel, Belgium, subject to required approvals.

The agreements provide JBF rights to build and operate this PET unit on BP’s existing petrochemicals complex in Geel, adjacent to BP’s purified terephthalic acid (PTA) facility.

In return, BP will supply PTA directly to this new PET manufacturing unit, which is scheduled to start up in 2014.