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Dhunseri Petrochem Ltd and Thailand’s Indoram Ventures Public Co Ltd are forming an equal joint venture by combining their PET resin manufacturing capacities.
In a communication to the stock exchanges, Dhunseri Petrochem said that it would hive off its 4.80 lakh tonnes PET capacity at Haldia in West Bengal and place in the joint venture.
Indorama Ventures would place its existing 2.16 lakh tonnes PET capacity in Haryana. Dhunseri Petrochem said the company’s Egypt venture would be out of the proposed joint venture deal.
Dhunseri Petrochemn also proposed a scheme of arrangement for hiving off its Indian manufacturing capacities.
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