Thailand’s Indorama and India’s Dhunseri Petrochem complete PET j.v.
by ChemOrbis Editorial Team - content@chemorbis.com
The equal joint venture between the Indian subsidiary of Thailand’s Indorama Ventures Limited (IVL), Micro Polypet, and India based Dhunseri Petrochem was reported to have been completed yesterday. Dhunseri had announced in February of this year that it would acquire a 50% stake in Micro Polypet and that IVL bought a 50% stake in Dhunseri.
Local media sources in India report that the company will gain significant synergies as it will be the only PET producer in Northern & Eastern India, plus most all of its sites will be integrated with third party PTA suppliers. The combined PET capacity of the company will be 700,000 tons/year, the second largest in India.
The companies pointed out that there is potential for growth in the PET industry since per capita consumption in the country is at 0.6 kg per annum compared to 2.6 kg per annum in China and 10.9 kg per annum in the US.
Local media sources in India report that the company will gain significant synergies as it will be the only PET producer in Northern & Eastern India, plus most all of its sites will be integrated with third party PTA suppliers. The combined PET capacity of the company will be 700,000 tons/year, the second largest in India.
The companies pointed out that there is potential for growth in the PET industry since per capita consumption in the country is at 0.6 kg per annum compared to 2.6 kg per annum in China and 10.9 kg per annum in the US.
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