02 April 2013 12:02 [Source: ICIS news]
SINGAPORE (ICIS)--Thailand-listed polyester maker Indorama Ventures Ltd (IVL) is in talks with a state-owned oil firm in the Middle East amid plans to build and operate a paraxylene (PX) production unit in the region, a company spokesperson said on Tuesday.
“We are talking to a state oil company… it is still in the early stages now and there is no deadline,” the spokesperson told ICIS.
“The PX project is being studied in the Middle East with the purpose of accessing low cost naphtha and with a partner to take care of the aromatics plant,” he added.
In an earlier presentation the company said that it is looking at the possibility of an Indian/Middle East project that includes PX, purified terephthalic acid (PTA), polyethylene terephthalate (PET) and polyester staple fibre (PSF), as well as capacity expansions in the US.
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