Thyssenkrupp Industrial Solutions, a leading partner for the engineering, construction and service of all industrial plants and systems has struck a deal with the Russian joint-stock company POLYESTER PLANT IVANOVO to build a new PET polymer and staple fibre production plant roughly 250 km northeast of Moscow in the Ivanovo region.

The new PET production plant will be the centre piece of a production complex for synthetic fibres. The construction of new facility is aimed at overcoming the dependence of the region's textile enterprises on imported commodities.

The new facility with ‘best-in-class technology’ will have an annual production capacity of up to 200 000 tons of polyester polymer. It involves investment to the tune of EUR 150 million.

The contract awarded to Thyssenkrupp includes engineering, procurement and the supervision of erection and commissioning. Thyssenkrupp have a proven track record of providing their customers in Russia with leading polycondensation technologies and equipment, said Sami Pelkonen, CEO of the Electrolysis & Polymers Technologies business unit of thyssenkrupp.