Thailand’s Indorama to invest $900 million for petchem projects
In January, Indorama reportedly started negotiations with Spain’s Cepsa for the acquisition of the company’s global PTA and PET businesses. The acquisition comprises Cepsa’s 220,000 tons/year purified isophthalic acid unit, 480,000 tons/year PTA unit and 175,000 tons/year PET unit in Guadarranque, Spain as well as a 550,000 tons/year PTA unit in Montreal, Canada.
In 2013, Indorama also announced that they signed a joint venture agreement with Abu Dhabi National Chemicals Company (ChemaWEyaat) to establish an aromatics plant in the Western Region of Abu Dhabi. The planned plant will be able to produce of 1.4 million tons/year of PX and 500,000 tons/year of benzene. Once the planned projects are completed, the company aims to increase their capacity by 25%.
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