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IRP mulls investment in PET facility in Europe

December 18/2009
December, 18 (plastemart.com) -- Despite the economic slowdown, Europe continues to import about 1 mln tpa of PET. In a bid to address the substantial shortfall in Europe"s PET demand, Indorama Polymers Plc is mulling an investment there. The world number 2 polyethylene terephthalate maker, with a 9% share in the global PET resin market, is considering investing US$90 mln in Europe. A decision is pending whether to build the new production facility of 150,000 to 200,000 tpa or acquire a plant that has been shut down in the recession.

North or South of Europe seem to be locations with the highest investment potential. Currently, IRP operates three plants with a combined capacity of 550,000 mln tpa in the North countries of Netherlands, UK and Lithuania. IRP"s annual PET output will cross 1.48 mln tpa when its Alabama-based AlphaPet plant reaches full capacity in Q1-2010.




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