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SRF commissions USD94 million BOPET plant in Hungary

August 13/2020

MOSCOW (MRC) -- Industrial and specialty intermediates manufacturer SRF Ltd. (New Delhi, India) has announced the establishment of a biaxially oriented polyethylene terephthalate (BOPET) plant at Jaszfenyszaru, Hungary, said Chemweek.

The BOPET plant will be built with an investment of EUR80 million (USD94 million). The facility entails a 10.4 m wide BOPET film line, with a production capacity of 40,000 metric tons/year.

SRF operates production sites in India, South Africa, and Thailand. The company announced earlier this month its plans to build a chloromethanes plant in India. The plant will have a production capacity of 100,000 metric tons/year and is due to be completed by January 2022. It is being built at a cost of 3.15 Indian billion rupees (USD42 million).

The company reported a 6.4% decline in net profit for the fiscal first quarter ended on 30 June to Rs1.77 billion compared with the corresponding period a year earlier. Revenue decreased by 12.3% year on year to Rs15.4 billion.

As MRC informed earlier, Royal DSM, a global science-based company in Nutrition, Health and Sustainable Living, announces that it has reached agreement with SRF Ltd., to acquire its Engineering Plastics business, a leading player in India in the development, production and sale of specialty materials.

According to MRC's ScanPlast report, Russia's estimated PET consumption totalled 367,720 tonnes in the first six months of 2020, up by 19% year on year. Russian companies processed 62,910 tonnes of material in June.

The multi-business corporate group SRF with head quarters in Gurgaon, India. SRF claims to be Indias second largest thin PET film manufacturer, with overall capacity for 60 KTa. The company has eight manufacturing plant locations in India and one each in UAE, Thailand and South Africa. The market leader in most of its businesses in its home market in India, SRF is the world's 2nd largest manufacturer of both the Nylon 6 tyre cord as well as the belting fabrics.
Author:Anna Larionova
Tags:PET-granulate, PET films, BOPP, Hungary, India.
Category:General News
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