|
$160 million invested to create first world-scale PTT Plant
900 direct and indirect jobs created in east end Montréal
Montréal, June 11, 2002 - The Premier of Québec, Mr. Bernard Landry, the Chairperson of Shell Chemicals Canada Ltd., Ms. Fran Keeth, and the Chairman of the Board, President and Chief Executive Officer of Société générale de financement du Québec (SGF), Mr. Claude Blanchet, today took part in a ground‑breaking ceremony for the first‑ever world‑scale polytrimethylene terephthalate (PTT) plant, owned and operated by PTT Poly Canada L.P., in the east end Montreal industrial park. Also present were the Minister for the Elimination of Poverty and Exclusion and MNA for Pointe-aux‑Trembles, Ms. Nicole Léger, the President and Chief Operating Officer of SGF Chimie, Ms. Jacinthe Dauphin, and the President and Chief Executive Officer of PTT Poly Canada L.P., Mr. Antony Patterson.
This 18‑month land development and plant construction project will create 150 jobs. The state‑of-the‑art plant, utilizing leading edge technology, will be located close to the Coastal Petrochemical site, on a property owned by Fiducie des installations pétrochimiques de l’est de Montréal.
The PTT Poly Canada plant will begin operations in early 2004 and produce up to 95,000 metric tons a year of PTT, a polymer used in the manufacturing of textile fibre for carpets, clothing, plastic film, and other products. The company will employ approximately 50 people full time at its maximum production capacity and generate 700 indirect jobs. The two equal limited partners, Shell Chemicals Canada Ltd. and Investissements Pétrochimie (2080) Inc. (a subsidiary of SGF Chimie), will invest over $160 million CAN in the PTT Poly Canada project. The company will benefit from a contribution of $15 million from Investissement Québec, including a loan of $5 million, for the implementation of this plant which will create 750 direct and indirect jobs, as well as 1,000 jobs during construction phase.
According to the premier, “this development marks the beginning of a unique synergy among Coastal Petrochemical, Interquisa Canada, and PTT Poly Canada, three companies that SGF has a stake in. SGF has been the initiator of these projects which, together, represent more than one billion dollars in investments and the creation of nearly 3,000 direct and indirect jobs. It is interesting to note that barely three years ago, the land on which these three industries are located, was essentially going to seed. With the construction of the world’s first PTT plant in east end Montréal, Québec as a whole will profit from the enormous benefits generated by this extremely high‑value‑added product.”
For her part, Ms Léger noted that “in addition to providing Quebec with numerous economic benefits, the polytrimethylene terephthalate plant will also contribute to the growth of east end Montreal. Among other things, the project will solidify the infrastructure of the refining and petrochemical industries at the Centre pétrochimique de l’est de Montréal. Also, the environment and public health‑conscious partners have made sure that the project not only meets government standards in this regard, but goes beyond them with stricter criteria that should stand as an example for the entire industry.”
For the chairperson of Shell Chemicals Canada Ltd., Ms. Fran Keeth, “the PTT Poly Canada plant is an excellent example of the type of innovative project that Shell seeks to develop. It meets our requirements for quality, technological innovation, and environmental protection. As leader and pioneer in the chemical industry, Shell adheres to strict project selection criteria and rigorously assesses each of its projects in terms of sustainable development.” The PTT Poly Canada project, in addition to complying with Québec environmental legislation, has been subjected to internal reviews by Shell Chemicals Canada and has gone through a thorough community consultation process.
President and chairman of the board of directors of SGF, Claude Blanchet added, “we are particularly happy with this new partnership with Shell Chemicals Canada. Their expertise, combined with the quality of technologies and products, shows us that this first PTT plant will reaffirm Montréal’s leading world role in the petrochemical industry. For years, the desire to develop the economic potential of PTT has spurred intense efforts by petrochemical companies around the world. PTT combines the best properties of nylon and polyester. SGF is proud to be associated, through its partnerships with Interquisa Canada, Coastal Petrochemical, and PTT Poly Canada L. P., with the revitalization of east end Montréal.”
“The chosen site will offer fast access to raw materials, energy, and the highway and railroad transportation system, facilitating our production and delivery operations. Above all, it will allow us to work in synergy with our neighbors, Coastal Petrochemical and Interquisa Canada. Interquisa Canada will provide us with one of our two main raw materials, purified terephthalic acid (PTA),” said president and chief executive officer of PTT Poly Canada L. P., Mr. Antony Patterson.
Polytrimethylene terephthalate (PTT)
PTT, marketed under the name CORTERRATM*, is a thermoplastic polymer manufactured from two raw materials: 1,3‑propanediol (PDO) and purified terephthalic acid (PTA). It can be processed into fibre or thread for the textile or plastic market. CORTERRATM combines the best properties of nylon and polyester: it is softer, more extensible, resistant to discoloration, and cleans and dries quickly. A Shell Chemicals Canada affiliate developed PTT in its present form in the 1990s in collaboration with Zimmer AG, with which it also designed the production technology to spin PTT.
The availability of this raw material in Quebec will even attract other manufacturers of plastic products, such as bottles –not only to Montreal but also to various other regions in Quebec. SGF Chimie is already engaged in serious discussions to this effect.
Shell Chemicals collectively refers to the companies of the Royal Dutch/Shell Group engaged in the chemicals business. Shell chemical companies manufacture and deliver petrochemical building blocks and polyolefins to industrial customers. These products are widely used in plastics, coatings and detergents. For further information visit our Website at www.shell.com/chemicals.
SGF Chimie is a subsidiary of Société générale de financement du Québec, whose mission is to implement economic development projects in cooperation with partners and under normal profitability conditions. Since its restructuring in 1998, SGF has generated investments of nearly $7.5 billion and created over 19,400 direct and indirect jobs in projects that carried through to the operational phase, in addition to the thousands of jobs during the construction phase. As of December 31, 2000, SGF’s consolidated assets exceeded $3 billion. SGF has 57 international partners with places of business in Quebec (sgfqc.com).
Official photographs of the sod-turning ceremony are available as of this afternoon at www.odcphoto.com/pttpolycanada.
-30-
Source :
Antony Patterson
PTT Poly Canada L.P.
Hubert Bolduc
Premier’s Office
Marie-Josée Dionne
Office of the Minister for the Elimination of Poverty and Exclusion
|