Published on June 15, 2018
Indorama Ventures Public Co Ltd (IVL) and India’s Dhunseri Petrochem have joined hands to acquire and restart a 540,000 tonne/year polyethylene terephthalate (PET) facility in Egypt.
A 50:50 joint venture was formed between IVL indirect subsidiary, Indorama Netherlands, and Dhunseri for the purchase of the PET plant of Egyptian Polyester Company SAE (EIPET), IVL said in a statement.
Restart activities for manufacturing recyclable PET has commenced and key raw material PTA [purified terephthalic acid] will be shipped from IVL Portugal soon after restart of Portugal PTA production anticipated in early July 2018. IVL and Dhunseri have an existing joint venture in India since 2016.