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Lotte Pakistan to double PTA capacity
07
Mar '11
Lotte Pakistan PTA Limited (Lotte PPTA), a division of the South Korean group, KP Chemicals, intends to spend $400 million to enhance capacity of their purified terephthalic acid (PTA) producing plant to one million tons per annum.

Lotte is the sole producer of PTA in Pakistan, and operates a PTA producing plant in Karachi's Bin Qasim Industrial Estate, with an annual production capacity of 500,000 tons.

PTA is the main input that goes into production of polyester stable fibre (PSF).

The firm's intention to raise production to one million tons has come about at a point in time when the Pakistan's economy is hit by financial crisis and worsening energy and power supply situations.

The firm's net profit for 2010 stood at Rs. 4.528 billion, which was 27 percent higher than that registered in 2009.

PSF producers, each year import around 100,000 to 150,000 tons of PTA. The government has also lowered the import duty on PTA from the previous seven percent to just three percent.

Fibre2fashion News Desk - India

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