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IVL signs metaxylene supply agreement with Cepsa
13
Aug '16
Thailand based Indorama Ventures Public Company Limited (IVL), a leading producer of intermediate petrochemicals, and energy group Compañía Española de Petróleos S.A.U. (“Cepsa”) have signed an exclusive supply agreement for metaxylene, a key feedstock for the production of Isopthalic Acid (“IPA”), a high value-added chemical additive used in the manufacture of PET, coatings and other resins.

As per the agreement, Cepsa will construct its second metaxylene unit for exclusive supply to IVL. The new Sorbex unit, a near replication of the existing unit, will have a capacity up to 70,000 metric tonnes per annum.

Together with the existing metaxylene unit, Cepsa will be able to supply the entire production to Indorama Ventures' co-located site, which is integrated with Cepsa's refinery in San Roque, Cádiz, Spain. The additional new supply is expected to come on-stream in 2018.

“This agreement will allow us to cater to our customers' growing IPA needs globally, from a reliable production platform with proven technology and a competitive supply chain infrastructure. The global IPA market is growing at five per cent per annum and it is our responsibility as a leader to support the growth effectively,” said Group CEO of IVL Aloke Lohia.

IVL acquired the vertically-integrated business of IPA, PTA and PET from Cepsa in Spain in April 2016 and expects to make further investments at the location to improve the capacity, reliability of supply and service of goods to customers in a competitive environment, maintaining the site's excellent track record driven by its dedicated and passionate employees, the company said. (RKS)

Fibre2Fashion News Desk – India

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