Indorama plans plans to invest up to 3 bln baht globally

02-Mar-06

Indonesia's largest PET producer - Indorama Polymers Plc (IRP) plans to expand capacity at its Thai unit by 39% next year, and plans to increase its revenue by 50% this year. Indorama plans to invest up to 3 bln baht globally this year, of which 400 million baht would go to Thailand. Global PET demand is projected at around 12.3 million tons this year, up by around 8-10%. The company's board has approved a 200-million-baht investment to expand its annual production to 125,000 tons from 90,000 tons. IRP had a 2% market share (11 million tons) in the global PET industry last year, which it hopes to boost to 4% by 2007. Including expansions in the United States and Lithuania, total capacity will eventually increase to 524,000 tpa against 206,000 tpa last year. The company aims to be the seventh largest in the world after the completion of expansion plans in Thailand, the US and Lithuania.