Indorama to complete PET expansion in Nigeria
A source based in Nigeria said, “Local availability is expected to increase over the near term given the upcoming capacity additions to the PET market by the end of this year. We might even have a supply surplus for local consumption. Moreover, we believe that the country will have enough petrochemical availability inside thanks to the Dangote refinery, which will be ready by 2018 or 2019. As for import market, trading started to improve as banks are injecting dollars to the market gradually and easing the process of opening letters of credit.”
No further details were provided about the current capacity and the size of planned expansion at the time of press.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Turkey PP, PE markets extending uptrend into December
- Rising energy and feedstock prices prompt further gains in Asia PET markets
- Upward trend gains momentum in China's import PP, PE markets
- Egypt’s import PVC market in short supply; local prices gear up
- December hints at further hikes in Europe’s PS, ABS markets
- Global polymer markets face soaring freights amid pent-up demand
- RCEP to boost Asia-Pacific polymer trade; will global PP, PE trade flows change?
- PVC sellers’ India pricing strategy may differ from other Asian markets
- More US PE offers find way to China, SE Asia; yet allocations still limited
- European PVC market hits 2-year high on tightness