By Malini Hariharan

India trails far behind China in the polyester business but there is growing interest in new investments that also extends upstream to purified terephthalic acid (PTA).

The latest entrant to the projects listing is Thai major Indorama Ventures which has signed an MoU with Indorama Synthetics (India) for an integrated PTA, polyester staple fibre (PSF) and polyethylene terephthalate (PET) project.

This is the first joint venture between the two companies which are run by the Lohia brothers.

Details of the planned project have yet to be disclosed. But according to one Indian media report, the $700m venture is expected to be located either in the southern or eastern India start production in three years. The PTA plant would be worldscale with a capacity of 1m tonnes/year with half of the production used by Indorama Ventures and 30% by Indorama Synthetics.

“We have already identified land parcels in four states and [are] going to start negotiation with each of them,” said Aloke Lohia, CEO of Indorama Ventures, one of the largest PET producers in the world.

This is the fourth PTA project being planned in India. Reliance Industries is working on two worldscale plants at Gujarat, on the west coast while JBF Industries has announced plans for a 1.12m tonnes/year plant at Mangalore, in south India.

PREVIOUS POST

Weak margins hit earnings

26/01/2012

By Malini Hariharan It is the results season and numbers posted so far confirm t...

Learn more
NEXT POST

Confidence Is Often Relative

30/01/2012

By John Richardson CONFIDENCE can be very relative. So, compared with late Q4 la...

Learn more
More posts
Exporters of PP and SM to China seem to have options other than shutdowns, but not PX exporters
29/11/2020

By John Richardson DIFFICULT choices lie ahead for exporters of polypropylene (PP), styrene monomer ...

Read
China polyethylene and ethlyene glycols in 2021: country-by-country outlook for exporters
26/11/2020

By John Richardson CHINA’S polyethylene (PE) imports could be at either 19.8m tonnes in 2021 or 16...

Read
China’s PE imports in 2021 could be as high as 19.8m tonnes or as low as 16.8m tonnes
24/11/2020

By John Richardson IN SCENARIO 3 in the above chart, China would import 16.8m tonnes of polyethylene...

Read
China may next year import 66% less PP from South Korea than in 2020, 72% less styrene from Saudi Arabia
22/11/2020

By John Richardson All the numbers that follow are my estimates only and are not the official ICIS n...

Read
China’s planned economy boosts global petchems this year but poses a self-sufficiency threat in 2021
19/11/2020

By John Richardson IT IS always useful to develop a good plan and then effectively implement the pla...

Read
Why history, culture and politics will give you the petrochemicals answers you need
17/11/2020

By John Richardson ALBERT EINSTEIN knew a thing or two about data, including searching for entirely ...

Read
No change in China’s policies seem likely under a Biden and Harris White House
15/11/2020

By John Richardson WE NEED to talk about politics without being political – a very difficult t...

Read
China petrochemicals rebound provides major global demand boost
12/11/2020

By John Richardson WOW yet again. China’s export-led economic recovery continues to support global...

Read

Market Intelligence

ICIS provides market intelligence that help businesses in the energy, petrochemical and fertilizer industries.

Learn more

Analytics

Across the globe, ICIS consultants provide detailed analysis and forecasting for the petrochemical, energy and fertilizer markets.

Learn more

Specialist Services

Find out more about how our specialist consulting services, events, conferences and training courses can help your teams.

Learn more

ICIS Insight

From our news service to our thought-leadership content, ICIS experts bring you the latest news and insight, when you need it.

Learn more