| Thailand's Indorama to double PET production capacity Rotterdam |
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| 2010.07.09. |  | |
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Thailand's Indorama Ventures announced plans to build a new PET production line in Rotterdam with capacity of 190 kt per year, almost doubling its existing capacity to 390 kt per year. The investment is to be completed in the first quarter of 2012.
The aim of the Dutch plant expansion is to increase the role of Indorama on the European PET market, and to fully utilize existing installed capacities of terephthalic acid (PTA) in Rotterdam, totaling 350 kt per year.
With the new investment, Indorama expects to benefit from the resulting economies of scale, especially since the production of PET has declined in Europe in recent years due to the closure of many unprofitable installations and production downtime.
The Thai company acquired the Rotterdam production assets from Eastman Chemical in April 2008, in a transaction that also involved UK-based PET production assets and was valued at €224 million. Most recently, in March this year, Indorama and Ottana Energy teamed up to acquire Italian PET and PTA production assets from Equipolymers.
Source: eplastics.pl
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