Indorama Ventures mulls US$1.2 bln investment in two new plants in the Middle East

17-Nov-10

After recent acquisitions in China, USA and Mexico at over US$500 mln, world number one producer of polyethylene terephthalate (PET) - Indorama Ventures Plc (IVL) is considering an investment of US$1.2 bln in two new plants in India and the Middle East. Construction on the new plants is expected to commence in 2011 and be completed by 2014. These two regions are the large markets that continue to miss from the company's portfolio. Since no PET facility is up for sale in India, IVL is mulling investments in a greenfield plant. A new plant requires an investment of US$600 mln for the world-scale capacity of 500,000 tons of PET and 1 mln tons of polyethylene terephthalate acid (PTA).