Mitsubishi Chemical Corp. inaugurates new PTA facility in Haldia

PTA India Corp, the Haldia-based arm of Mitsubishi Chemical Corporation of Japan, has inaugurated its’ new 800,000 ton capacity, largest single-line production facility of purified terapthalic acid (PTA) in the world at Haldia, West Bengal. The new facility is located within PTA India’s existing site at Haldia. The combined 1.3 tpa plant is Mitsubishi’s second largest PTA plant, globally. The new plant came up within the existing site of the Mitsubishi facility in Haldia. Currently, PTA India holds a 29% share of the Indian PTA market. It expects to expand its share as well as volume with optimistic demand outlook in India over the next few years, with demand revival in the petrochemical sector. The company hopes to end the 11th Five Year Plan (2007-12) with a 12% growth. The Bengal government owns a minority stake of 5% in the company. PTA India Corp is set to become the third billion-dollar company from Bengal, and expects to post a turnover of US$1.2 bln next fiscal, backed by a three-fold expansion in production.
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