29 May 2012 16:17 [Source: ICIS news]
LONDON (ICIS)--Indian polyester film manufacturer Polyplex Corp is to construct a $150m (€120m) polyethylene terephthalate (PET) plant in ?xml:namespace>
The installation, with a capacity of 600,000 tonnes/year, would go into operation within two to three years, according to Kapil Gupta, senior vice president of Polyplex.
Raw material for the plant, to be sited in the Corlu tax-free zone, west of
However, Polyplex was considering investing $500m with a Turkish or international partner to construct another plant in
The PET output would largely be used in the production of plastic bottles, Polyplex said.
The plant would target an initial export value of around $1bn a year, it added.
Polyplex said it had been assisted in its investment objectives by
($1 = €0.80)
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