25 January 2012 13:11 [Source: ICIS news]
LONDON (ICIS)--Thailand’s Indorama Ventures plans to build a fully integrated polyester facility in India for around €539m ($700m), the polyester producer said on Wednesday.
“India today is a fast-growing market that is demanding attention from the world’s fast-moving consumer goods companies, who are our customers. It is imperative that we are there to serve these customers and the emerging local producers who will be consuming more and more PET and PSF over the next decade,” said Indorama CEO Aloke Lohia.
“We are looking at the long-term double-digit growth in demand for such products, and feel this is the right time to move into the market.”
The company said details of the capacity and location are expected to be made public once formal negotiations have been completed.
($1 = €0.77)
For more on PET and terephthalic acid visit ICIS chemical intelligence
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|
Asian Chemical Connections