IRP mulls investment in PET facility in Europe

Despite the economic slowdown, Europe continues to imports about 1 mln tpa of PET. In a bid to address the substantial shortfall in Europe's PET demand, Indorama Polymers Plc is mulling an investment there. The world number 2 polyethylene terephthalate maker, with a 9% share in the global PET resin market, is considering investing US$90 mln in Europe. A decision is pending whether to build the new production facility of 150,000 to 200,000 tpa or acquire an plant that has been shut down in the recession. North or South of Europe seem to be locations with the highest investment potential. Currrently, IRP operates three plants with a combined capacity of 550,000 mln tpa in the North countries of Netherlands, UK and Lithuania. IRP's annual PET output will cross 1.48 mln tpa hen its Alabama-based AlphaPet plant reaches full capacity in Q1-2010.
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