Thai Indorama Ventures to raise PET polymers capacity in Europe

07 April 2011 10:13  [Source: ICIS news]

SINGAPORE (ICIS)--Thailand’s Indorama Ventures said on Thursday it plans to beef up its Europe production of polyethylene terephthalate (PET) polymers by a fifth to 1.3m tonnes/year by 2013.

It said on 5 April the company’s board approved the building of incremental 220,000 tonne/year capacity. A brownfield expansion at this time is more cost effective than developing a greenfield site, the company said in a statement.

“This expansion, [with the] completion expected in 2013, will increase the total capacity of Indorama Ventures in Europe to 1.3m tonnes/year of PET polymers with five locations strategically placed to serve all countries in EU competitively,” it said.

Meanwhile, Indorama Ventures also has two purified terephthalic plants in Rotterdam, Netherlands and in Ottama. In February 2011, it has entered into a binding agreement to acquire Germany’s polyester firm Trevira.

“Our latest brownfield expansion … is going to be at a highly cost competitive capex [capital expenditure] as well as operate at the lowest operational cost by being able to leverage on existing infrastructure and close proximity to key raw materials,” said Aloke Lohia, group CEO of Indorama Ventures.

“Polyester fibres and yarns, PET polymers and PTA “are growing at unprecedented levels” and as a consequence, I am very encouraged with the synergy we experience now with the recently acquired businesses in the US, Mexico, China, Indonesia and Poland,” said Lohia.

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By: Pearl Bantillo
+65 6780 4359

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