Alpek forms joint venture with United Petrochemical for terephthalate chemical plant
Mary Page Bailey
Alpek, S.A.B. de C.V. (San Pedro Garza García, Mexico; www.alpek.com) has signed a joint venture (JV) agreement with United Petrochemical Company for the construction of an integrated purified terephthalic acid (PTA) and polyethylene terephthalate (PET) plant in Ufa, Bashkortostan, Russia. Under the JV agreement, Alpek and UPC will invest $10 million each in the completion of the plant’s evaluation stage. Construction is subject to the approval of the business plan by the Board of Directors of both companies.