GS announced that it had bought 49% of Ceyhan Petrokimya Endustriyel Yatrim (CPEY), a subsidiary of Turkish conglomerate Ronesans Holding.CPEY is to build a propylene and polypropylene plant with an annual capacity of 450,000 tonnes a year, equal to a quarter of the country’s polypropylene. Polypropylene is a thermoplastic with a wide range of commercial uses, from chairs and pipes to packaging.The plant is the first project in what Ronesans is billing as a “global petrochemical hub” in Adana.
