CTEI News:

Zhejiang Tongkun Group Jiaxing Petrochemical Co., Ltd. announced its 800,000 tons PTA projected was approved by authority. This is a key step for Tongku Group to grow from Polyester chemical-fiber industry to petrochemistry industry.

According to Wang Jianyin, the president of Tongkun Group, the project is going to kickoff 2011, with an investment of 3.04 billion yuan. It will put into production in first half of 2013. This project is constructed in Zapu Chemical Fiber Industry Zone in Jiaxing, Zhejiang Province. Wang said all the products in this project is for its internal usage. It is designed to save cost for the group.