The latest in a string of acquisitions that have made it the world’s leading polyester producer, Indorama Ventures (IVL, Bangkok / Thailand; www.indoramaventures.com) on 6 March 2012 announced that it had signed an agreement to acquire the 100,800 t/y PET capacities of Polypet Karyapersada (Ciwandan, Cilegon / Indonesia; www.polypet.co.id). The purchase price was not disclosed. IVL did say, however, that about half the plant’s output is earmarked for the domestic market.

Commenting on the investment, IVL chief executive Aloke Lohia said it would “assist us to consolidate our position in the Indonesian market.” The facility is located next to a PTA plant that IVL acquired in 2011 – see also Plasteurope.com of 04.07.2011 – and where the Thai petrochemical giant is currently raising capacity from 465,000 t/y to 500,000 t/y.

IVL also operates a 160,000 t/y PET/polyester fibre plant in Tangerang / Indonesia, which it acquired from South Korea’s SK Chemicals (Seoul; www.skchemicals.com) in 2010 – see Plasteurope.com of 13.12.2010. Attesting to the island-state’s importance in the group’s future plans, IVL also plans to commission another 300,000 t/y polyester fibre, yarn and chips plant in Puwakarta.