Home / Knowledge / News / Textiles / Thai IVL to build PTA-PET-PSF plant in India

Thai IVL to build PTA-PET-PSF plant in India

27
Jan '12
Indorama Ventures Public Company Limited (IVL), Thailand's largest Polyester producer, announced its plan during the official visit of Thailand's Prime Minister Yingluck Shinawatra to India on 25 January, to construct a world-class, state-of-the-art and integrated facility in India containing PTA (Purified Terephthalic Acid), PET (Polyethylene Terephthalate) and PSF (Polyester Staple Fiber) plants fully-integrated with a third party Paraxylene producer.

A Memorandum of Understanding was signed with Indorama Synthetics (India) Limited to enter into a joint venture that would construct and utilize the offtake of the plants.

Mr. Aloke Lohia, Group CEO and founder of Indorama Ventures said, "India today is a fast-growing market that is demanding attention from the world's fast moving consumer goods companies, who are our customers. It is imperative that we are there to serve these customers and the emerging local producers who will be consuming more and more PET and PSF over the next decade. We are looking at the long term double digit growth in demand for such products and feel this is the right time to move into the market. "

PET is commonly used in food and drinks packaging and is familiar to all as the bottles from which people consumer water and soft drinks. PSF is a polyester alternative to natural fibers and allows the manufacturers of clothing and other soft products to produce low-cost items ideally suited to a large and growing population. PTA is the major raw material used in the production of both PET and PSF. Indorama Ventures plans to backward integrate into the Paraxylene facility of a third party in order to ensure a captive supply of its essential raw material while providing low cost access.

The large-scale project is expected to cost around US$700 million. Details of the capacity and location are expected to be made public once formal negotiations have been completed.

Indorama Ventures Public Company Limited, listed in Thailand is a leading producer in the polyester value chain in Thailand with strong global network and manufacturing across Asia, Europe and North America. Its products serve major players in diversified end use markets, including food, beverages, personal and home care, health care, automotives, textile, and industrial.

Indorama Ventures Public Company Limited (IVL)


Must ReadView All

Pic: Shutterstock

Textiles | On 27th Jul 2021

Freeze branding not non-mulesed in new Oz National Wool Declaration

Australian wool exporters have backed a revised National Wool...

Pic: Shutterstock

Apparel/Garments | On 27th Jul 2021

Jordan's garment industry showed 'resilience' during pandemic: Report

Jordan's garment industry did not witness the pandemic’s worst...

Pic: Shutterstock

Textiles | On 27th Jul 2021

Prime Content| Malaysian cotton trade to pick up as world recovers from COVID-19

Malaysian cotton trade is on a rise due to recovery from the pandemic ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Main challenges are breakdown of supply chain and shrinkage of manpower

Footwear Industry, Footwear Retailers

Footwear Industry
Footwear Retailers

Still struggling to mop up higher sales

Textile Industry, Head honchos

Textile Industry
Head honchos

Ensured payment of fee was least concern for students

Daniele Uboldi,

Daniele Uboldi

EptaInks is the screen-printing division of Eptanova, a company that...

Barry Goodwin,

Barry Goodwin

UK based Amba Projex Ltd designs, manufactures, and installs industrial...

Chini Chouhan,

Chini Chouhan

Founded by Chini Chouhan, her eponymous brand specialises in women's...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha & Jigar blends India's unique handcrafts...

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

Leave your Comments


July 2021

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


Advanced Search