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Indorama Ventures plans PTA & PSF facility in India

13
Jun '12

Indorama Ventures Public Company Limited (IVL), one of the largest vertically integrated polyester chain producers in the world, is planning to build its presence in India by setting up an integrated facility for Purified Terephthalic Acid (PTA), Polyethylene Terephthalate (PET) and Polyester Staple Fibre (PSF).

Speaking to fibre2fashion, Mr. Aloke Lohia, the CEO of IVL, said, “Indorama is looking forward to building its presence in India because 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.”
 
Giving a brief outline of IVL’s expansion plans in India, he reveals, “The integrated facility would have PTA, PET and PSF plants and would serve both Indian as well as export markets. IVL plans to backwardly 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.”
 
Talking about the potential of Indian market, he opines, “India is a country with large population and therefore there is a huge and growing market. We see strong growth opportunities in India with limited competition due to lack of major producers in the relatively bigger market.”
 
“We are looking at the long term double digit growth in demand for PTA, PET and PSF and feel this is the right time to move into the Indian market,” he adds.
 
Mr. Lohia is optimistic about the growth prospects for the Asian region. He says, “Although the economy of Asian countries has been affected by the continuing global economic slowdown, the economy of the Asian region still stands strong and is playing a key role in the global economy.”
 
“Asia accounts for over 50 percent of the world population with a rapidly expanding middle-class. The region is experiencing growth and continues to attract investment due to potential market size and high rates of growth and profitability,” he explains.
 
“The formation of regional trading blocs like the ASEAN Free Trade Area (AFTA) and the ASEAN Economic Community (AEC) will further strengthen the position and increase the Asian region’s competitive edge,” he continues.
 
Terming China as a big force in the Asian market, he says, “China has lots of resources that are still not tapped. The reserves of shale gas will give the country great cost competitiveness, but currently the reserves are managed by state enterprise. However, there will be huge opportunities if the upstream operations open up.”


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