Indorama to build $700 million PTA-PET-PSF complex in India to serve Indian and export markets; plans JV to use plants’ output
BANGKOK, THAILAND, January 25, 2012- Indorama Ventures Public Company Limited (IVL), Thailand's largest polyester producer, announced its plan during the official visit of Thailand's Prime Minister Yingluck Shinawatra to India on 25 January, to construct a world-class, state-of-the-art and integrated facility in India containing PTA (purified terephthalic acid), PET (polyethylene terephthalate) and PSF (polyester staple fiber) plants fully-integrated with a third party paraxylene producer. A memorandum of understanding was signed with Indorama Synthetics (India) Limited to enter into a joint venture that would construct and utilize the offtake of the plants.
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