dhunseri, indorama ventures form india jv - pet resin
Dhunseri Petrochemical Co. , Ltd. (Dhunseri)
Thailand Indorama Joint Venture Co. , Ltd (IVL)
It has been agreed to set up an equal joint venture to produce and sell PET resin for the domestic market and for export in India.
Dhunseri will purchase a 50% stake in 216,000 tons of micro Polypet Pvt. Ltd. (MicroPet)
It is a company owned by The Indorama joint venture in Haryana, northern India.
IVL, in turn, will acquire a 50% stake in a carved entity of Dhunseri, located in Haldia, West Bengal, with an effective capacity of 480,000 tons of pet manufacturing.
The deal did not include Dhunseri's pet manufacturing base in Egypt.
The joint venture will be approved by the regulatory authorities and is expected to be completed at H2 2016.
An official pointed out that the use of pets is only 0.
India compares monthly kg months per year.
Kilograms per month and month in China.
American every year 9 kg
This joint venture is a win-win situation.
In the strongest growth market with a population of more than one billion people, winning two producers with a combined capacity of 700,000 tons/year, and reaching a favorable trade agreement with the region's logistics advantage countries.
As the sole producer of PET Resin in northern and eastern India, the joint venture will achieve significant synergies, both of which will be effectively integrated with its raw material suppliers, this will bring savings to SG & A and sourcing.
IVL's global market coverage and high utilization are expected to complement Haldia's location advantage in the largest ports in eastern India, while MicroPet enjoys a strong location advantage in the high demand areas of northern India. C. K.
Dhanuka, chairman of Dhunseri, said, "Dhunseri believes that the next few years will bring opportunities for the expansion of the petrochemical industry, and this joint venture will bring scale benefits to all stakeholders.
The Indian joint venture between the two organizations will benefit from IVL's global presence and technology leadership.
Aloke Lohia, CEO and founder of IVL group, said, "This joint venture will cover fast-
Expand the Indian market with experienced partners.
There is one in India
The well-educated middle class will embrace the modern, hygienic lifestyle that PET packaging offers.