08 June 2011 18:02 [Source: ICIS news]
LONDON (ICIS)--Thailand’s Indorama Ventures expects to bring its new 75,000 tonne/year polyethylene terephthalate (PET) plant in Port Harcourt, Nigeria, on stream in the first quarter of 2012, CEO Aloke Lohia said on Wednesday.
The greenfield project, which is currently under construction, should be completed by the end of this year and become operational in the first quarter of next year, he said.
The size of the project reflects the relatively small size of Africa’s PET-related beverages market, added Lohia.
“At the moment, Africa is a very small market for PET-related beverages. But we want to be an early entrant in those markets so we are starting with a small investment in Nigeria,” he said.
The project is part of Indorama Ventures’ plans to raise its total production capacity for purified terephthalic acid (PTA), PET and fibres to at least 10m tonnes/year by 2014, from around 5.5m tonnes/year today.
For more on PET and PTA visit ICIS chemical intelligence
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