Dhunseri Petrochem acquires 50% stake in in Micro Polypet from Indorama Ventures Public Company

13-Sep-16

Dhunseri Petrochem, a subsidiary company of Dhunseri has completed the equal joint venture partnership with Thailand's Indorama Ventures Public Company (IVL), by acquiring 50% stake from IVL in Micro Polypet (MicroPet),which has a capacity of 2,16,000 tons having its PET plant in Haryana. Dhunseri Petrochem used Rs 110 crore to buy 50% in MicroPet. Simultaneously, with IVL having acquired a 50% stake in Dhunseri Petglobal (DPGL), both Dhunseri and IVL have an equal stake in DPGL. By combining the two companies as equal partners the resulting total capacity of 7,00,000 tpa, making them the second largest manufacturer in the country after Reliance Industries.