Indorama plans polymers facility

Indorama Thailand "" one of the leading makers of purified terephthalic acid (PTA), polyester fibers and polyethylene terephthalate (PET) polymers with its significant presence in Thailand, the US and Europe "" is planning to set up a 200,000 tonnes greenfield PET polymers manufacturing facility in northern or western India with an investment of $30 million (Rs 120 crore).

"The plan is in a preliminary stage, and India is in the forefront of the group's investment proposals," told Aloke Lohia, CEO of the company to Business Standard.

"The plan is forward looking as the country's consumption of PET polymers is growing by 15 per cent. Ten years from hence, we are expecting the demand to touch at least half a million tonnes," said Lohia.

PET polymers is the basic raw material to manufacturer PET bottles, which is widely used for packaging mineral water, consumed appreciably by health conscious consumers. It is also used to produce PET packaging materials for storing chemicals in a large quantity.

"We are looking at opportunities in BRIC (Brazil, Russia, India and China) countries where potential is immense. To begin with, we will set up a greenfield project in India while we are also eyeing opportunities through greenfield or brownfield in other countries simultaneously," said Lohia. In the next three years, the company is planning to invest $100 million (Rs 400 crore) in the BRIC countries.

The company recently acquired 90 per cent stakes in Tuntex (Thailand), a Thailand-based company.