Modern chairman, H S Ranka, told reporters yesterday that talks are at a preliminary stage and a Dow team is arriving on September 17 to hold further talks. Dow Chemicals, a Fortune 500 US corporation, is interested in setting up a PET plant in India but wants the assured supply of raw material, PTA.
The Modern group is setting up a 2.5 lakh tonne PTA plant, to be operational by 1998, for which one of Dow's Italian subsidiaries is providing the technology.
