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Indorama Ventures to increase capacity of Nagpur plant

Apr 01, 2021
Indorama Ventures to increase capacity of Nagpur plant

Bangkok, Thailand

Indo Rama Synthetics (India) Limited (IRSL), a subsidiary of global petrochemical producer Indorama Ventures Public Company Limited (IVL), announced its plan to spend up to Rs 6 billion to upgrade equipment and add capacity at its manufacturing site in Nagpur. The capital expenditure plan includes a new PET resin manufacturing facility, additional balancing equipment and a large range of speciality yarns, to further strengthen IRSL’s ability to serve clients in India.

The new PET resin facility at Nagpur will add 700 tons of capacity per day and is expected to be operational by the second quarter of 2022. The Nagpur plant has been managed by IVL since 2019 and is the company’s first fibre manufacturing site in India. It offers a wide range of staple fibres and filament yarns. Under the investment plan, it will meet global brands’ increasing demand for more high-quality and sustainable textile products.

D K Agarwal, CEO, Combined PET, IOD and Fibres Business at Indorama Ventures said that India is a strategic high-growth market for them and their capital expenditure plan reflects their long-term commitment to the industry’s development in India. He added that it is important that they continually invest to ensure that they can serve their customers across India, wherever they are needed.

India is a strategic market for IVL, where the company operates all three of its global integrated business segments – Combine PET, Fibres, and Integrated Oxides and Derivatives (IOD). IVL has continually developed its PET resin business in India since 2016 through IVL Dhunseri Petrochem Industries Private Limited (IDPIPL), a joint venture with Dhunseri Ventures Limited.

The Nagpur facility along with plants at Haldia and Karnal further strengthens IVL’s position as India’s largest resin producer, with a total capacity of over 1 million tons annually. With three manufacturing locations across the country, IVL serves customers throughout India.

Source – Indorama Ventures Press Release

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