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Lotte PPTA investment to expand its PTA capacity to 1.5m tonnes/year

October 10/2011

(ICIS) -- The fate of Lotte Pakistan PTAs (Lotte PPTA) investment to expand its purified terephthalic acid (PTA) capacity to 1.5m tonnes/year in the country depends on the governments decision to increase import tariffs to protect the industry, a company executive said over the weekend.

The company, which has a 500,000 tonne/year plant in Port Qasim, located 50km (31 miles) outside the industrial port city of Karachi, is planning to spend up to $500m (?375m) on the expansion, Asif Saad, the CEO of Lotte PPTA, earlier told ICIS.

Pakistans Board of Investment (BOI) earlier this year requested the company, the only PTA maker in the country, to submit a proposal to undertake the expansion, according to Saad.

Lotte PPTA wants the import tariffs should be benchmarked with countries where PTA production and demand are growing, and that have similar industry structures. The PTA tariff in the EU is at 6% and the tariff in China is 6.5%, while Indias tariff stands at 5%, Saad said.

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