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