18 May 2012 05:11 [Source: ICIS news]
KUALA LUMPUR (ICIS)--Lotte Pakistan PTA (Lotte PPTA) has put on hold its plans to build a $500m (€395m) world-scale purified terephthalic acid (PTA) plant after failing to secure the Pakistani government’s support in terms of higher import tariffs as protection for the domestic industry, a company executive said on Friday.
“At this time we are disengaged,” Lotte PPTA CEO Asif Saad told ICIS in an interview.
Lotte PPTA was initially looking at building a second PTA plant in Pakistan that will have a capacity of between 800,000 tonnes/year and 1m tonnes/year in ?xml:namespace>
The company operates
($1 = €0.79)
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