Home / Knowledge / News / Textiles / IVL completes integration of Indian PET joint venture
IVL completes integration of Indian PET joint venture
19
Sep '16
courtesy: Indorama Ventures
courtesy: Indorama Ventures
Global petrochemicals producer and Thailand based Indorama Ventures said it has completed the integration of its Indian subsidiary Micro Polypet Private Limited with another Indian company Dhunseri Petrochem Ltd. The PET production capacity of the joint venture company is now 700,000 tons per annum, making it the second largest PET producer in India.

According to IVL, the potential for growth in the PET industry in India is significant given that per capita consumption is currently at 0.6 kilograms per annum as against 2.6 kilograms per year in China and 10.9 kilograms per annum in the US.

“The joint venture will gain from significant synergies as being the sole producer of PET Resin in Northern and Eastern India and with all its manufacturing sites being effectively integrated with third party PTA suppliers,” IVL added.

“The milestone is an important step in driving IVL's strategic priorities forward while bringing together two leading companies with complementary strengths, brands and experiences,” Aloke Lohia, Group CEO of IVL said. “India is a very large country with a well-educated and booming middle class that will embrace the modern, hygienic lifestyle offered by PET packaging.” (AR)

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: Myntra

Apparel/Garments | On 3rd Dec 2016

Myntra to be EBITA positive by FY18: CEO Narayanan

Myntra is on track to achieve sustainable growth and be EBITA...

Courtesy: India ITME Society

Textiles | On 3rd Dec 2016

India ITME 2016 opens with over 1050 exhibitors

The India International Textile Machinery Exhibition (India ITME)...

Courtesy: Bruckner

Textiles | On 3rd Dec 2016

Indian textile companies opt for Brückner stenter lines

Indian textile firms Laxmipati Sarees, makers of polyester sarees and ...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search