To expand production capacity in India, Indo Rama Synthetics (India) Limited (IRSL), a subsidiary of global petrochemical producer Indorama Ventures Public Company Limited (IVL), will spend up to USD 82 Million.
- The company will upgrad equipment and add capacity at its manufacturing site in Nagpur, India.
- The capital expenditure plan includes a new PET resin manufacturing facility, additional balancing equipment, and a large range of specialty yarns, further strengthening IRSLs ability to serve clients across the country.
The major deals and expansions by Indorama are feature below:
Aug 2020: The global chemical manufacrurer Indorama Ventures Public Company Limited (IVL) had announced to acquire Industrie Maurizio Peruzzo Polowat spóeka z ograniczon odpowiedzialnoeci? (IMP Polowat), a PET recycling facility in Poland. The acquisition will open up new opportunities for IVL to meet the increasing rPET demand for more sustainable packaging solutions.
June 2020: Indorama Ventures Public Company Limite, announced that it had acquired 100% equity stake of AG Resinas Ltda through its indirect subsidiary Indorama Ventures Polimeros S.A.
March 2020: Indorama Ventures Public Company Limited through its indirect subsidiary,Indorama Ventures Packaging (Philippines) Corporation(IVPPC), entered into a Joint Venture Agreementwith Coca-Cola Beverages Philippines,Inc to form a70:30 joint venturecorporation in the Philippines, by the name ofPETValuePhilippines Corporation (the JV), whereby IVPPC will hold 70% equity stake of the new joint ventureand Coca-Cola Philippineswill hold the remaining 30%.
About Indorama Ventures
Indorama Ventures (IVL), headquartered in Bangkok, Thailand, is one of the world’s leading intermediate petrochemicals producers. The company has a global manufacturing footprint across Africa, Asia Pacific, Europe and Americas. The company’s product portfolio comprises Integrated PET, Olefins, Fibers, Packaging and Specialty Chemicals.
IVL has more than 24,000 employees globally and it has 120 manufacturing facilities in around 33 countries. Indorama Ventures products serve major FMCG and automotive sectors, i.e. beverages, hygiene, personal care, tire and safety segments.