Indorama Ventures PET processing capacity
Indorama Ventures PET processing
Indorama Ventures to increase PET processing capacity to 750 thousand tons per year by 2025
MOSCOW – Indorama Ventures (IVL) will increase its capacity for processing polyethylene terephthalate (R-PET) to 750 thousand tons per year by 2025, the Thai company said in its annual report.
In his introduction to the report, Dilip Kumar Agarwal, Chief Executive Officer of Feedstock and PET Business, said: “We have committed to the Ellen MacArthur Foundation that we will increase our PET processing capacity to 750 thousand tons by 2025 ”
Along with expanding PET processing capacities, the company expects that by 2025, return on invested capital (ROCE) will be about 12-14%.
The company has already expanded its processing facilities, which began with the acquisition of Wellman International in Europe in 2011, with its PET granulate processing plants in Spijke (Netherlands) and Verdun (France). Indorama Ventures PET processing
In addition to PET and PET fiber processing plants in Thailand, the company has combined three PET processing plants in the United States and Mexico, including Green Fiber International Inc with an R-PET granulate capacity of 40 thousand tons per year.
IVL expanded its operations in Europe in 2018 when it acquired Sorepla polymer processor in France with a capacity of 52 thousand tons per year. Indorama Ventures PET processing
Indorama has invested in advanced chemical processing technologies by setting up a joint venture with Loop Industries in the USA and a partnership with Ioniqa in the Netherlands.
Companies like Procter and Gamble have signed an IVL deal with R-PET, and P&G announced earlier this year that it will be the first company in Europe to manufacture Indorama Circular Plastics PET made by chemical processing.
According to ScanPlast of Market Report, in March the total estimated PET consumption in Russia amounted to 65.37 thousand tons, which is 1% higher than the previous year. The estimated PET consumption in January – March of this year compared to the same period in 2019 decreased by 3% and amounted to 175.17 thousand tons.
Indorama Ventures PLS is one of the world’s leading manufacturers of PET, TPA, MEG (in the USA), as well as polyester filaments and fibers. Indorama Ventures PET processing
Author: Anna Larionova