The Kolkata-based Dhunseri Petrochem & Tea Ltd has said that the foundation stone for the 4,20,000 TPA, PET resin plant of the company’s 70 per cent subsidiary, Egyptian Indian Polyester Company S.A.E, was laid on June 23 in Egypt.
The project is estimated to cost $160 million and is expected to generate $700-million revenue when fully operational. It is likely to be commissioned by the fourth quarter of 2012. Apart from Dhunseri, the other stakeholders are two Egyptian companies.