EPCA ’07: Reliance bids for Tuntex Thai assets

02 October 2007 11:49  [Source: ICIS news]

BERLIN (ICIS news)--Reliance Industries, the Indian petrochemicals major, has submitted a bid to buy Tuntex Thailand’s polyester plant following an acquisition of assets in Malaysia, a senior company official said on Tuesday.

Reliance has also expressed interest to buy Tuntex’s purified terephthalic acid (PTA) plant at the same site, RD Udeshi, president of the fibre intermediates division, said on the sidelines of the European Petrochemical Association conference.

The company has been on the lookout for polyester buys in the region to consolidate its status as one of the largest producers in the world.

It is expected to complete the acquisition of Hualon’s plants in Malaysia in a month’s time and bought German polyester company Trevira in 2004.

Tuntex produces 450,000-500,000 tonnes/year of PTA and 250,000 tonnes/year of polyester in Mab Ta Phut, Rayong province.

By: Florence Tan
+65 6780 4359

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