13 June 2011 00:00 [Source: ICB]
Thailand-based producer plans to raise its global PET and PTA footprint
|PET capacity at Wloclawek will be raised to 360,000 tonnes/year|
Company founder and CEO Aloke Lohia said PET capacity at the Wloclawek site, formerly owned by SK Eurochem, will be raised by 220,000 tonnes/year to 360,000 tonnes/year.
Indorama Ventures acquired SK Eurochem from South Korea's SK Chemicals in March.
PTA FROM PKN ORLEN
Indorama Ventures expects to complete the Wloclawek project in 2013. Purified terephthalic acid (PTA) feedstock will be supplied by PKN Orlen's new PTA plant, also at Wloclawek, Lohia said. Polish prime minister Donald Tusk officially opened the 600,000 tonne/year PTA plant earlier this month.
Indorama Ventures revealed plans in April to add 220,000 tonnes/year of PET capacity in Europe by 2013, but did not disclose further details.
The Wloclawek expansion is part of the Indorama Ventures' plans to raise its global production capacity, for PTA, PET and fibers, to at least 10m tonnes/year, from approximately 5.5m tonnes/year today, Lohia said.
Demand is strong, and the company is running all its plants at full utilization rates, he remarked. Global consumption of PET and fibres and filaments is forecast to grow at approximately 6.5-7% per year, he added.
Indorama Ventures has already announced expansions and acquisitions that will add about 1m tonnes/year of capacity, including the pending purchase of Germany's polyester firm Trevira, which brings 120,000 tonnes/year of capacity, he said.
Projects announced by the company include a 190,000 tonne/year PET expansion and a 250,000 tonne/year PTA expansion in Rotterdam, the Netherlands, and a 300,000 tonne/year polyester project in Purwakarta, Indonesia.
In Rotterdam, PET capacity will be raised to 390,000 tonnes/year by the end of this year and PTA capacity is expected to reach 600,000 tonnes/year in 2014.
WORK BEGINS IN INDONESIA
Construction work has started on the Purwakarta polyester project, which is expected to begin operations in the first quarter of 2013. Chemtex, the engineering division of Italy's M&G Group, has been awarded the contract to build the project. Under the contract, Chemtex said it will supply the complete polymerization plant and provide the design for the entire facility, including downstream spinning, utilities and off-sites.
The plant will receive PTA feedstock from Indorama Ventures' facilities in Thailand, and will supply growing demand for the polyester fiber, yarn and chips market in Indonesia and the Asian region, the company said.
Indorama Ventures is investing in Indonesia following its acquisition of Indonesia polyester producer SK Keris, announced last year.
AFRICAN PET PROJECT
Indorama Ventures is also building a 75,000 tonne/year PET plant in Port Harcourt, Nigeria, which is expected to be completed at the end of this year and come on stream in the first quarter of next year, Lohia said.
The size of the project reflects the relatively small size of Africa's PET-related beverages market, he added.
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