18 May 2011 14:31 [Source: ICIS news]
LONDON (ICIS)--Indorama Ventures will increase its European purified terephthalic acid (PTA) capacity by 46% following expansion work at the company's site in the Netherlands, the Thailand-listed producer said on Wednesday.
The 250,000 tonne/year expansion at the Rotterdam plant will boost capacity in Europe to 792,000 tonnes/year in 2014 from the current 542,000 tonnes/year, which includes the company's other PTA facility in Ottana, Italy.
“...this reflects Indorama’s commitment to support a healthy and growing supply chain of your basic raw material,” business and commercial development director, Stephen Short, said in a letter to customers.
In April, Indorama said it intends to increase downstream polyethylene terephthalate (PET) capacity in ?xml:namespace>
This will bring the company's total European polymer capacity to 1.4m tonnes/year in 2014, contributing to 66% of its captive raw material requirements, it added.
“The vertical integration strategy has been proven to provide us superior stability with an above average return on our total value chain,” Indorama group CEO, Aloke Lohia, said.
Earlier this month DBS Vickers Securities said in a research note that it expected Indorama to boost its group-wide global production capacity by 81% year on year to 5.8m tonnes/year by the end of 2011.
($1 = €0.70)
For more on PTA, PET visit ICIS chemical intelligence
Please visit the complete ICIS plants and projects database
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|