Polyester manufacturer Indo Rama Synthetics (India) Ltd and Indorama Ventures Public Company Ltd, Thailand’s largest polyester producer, have signed a MoU to build a modern integrated facility having Purified Terephthalic Acid (PTA), Polyethylene Terephthalate (PET) and Polyester Staple Fiber (PSF) plants in the presence of the visiting Prime Minister of Thailand.
India is a net importer of PTA and the demand for PET and PSF is set to grow and the plant would help in meeting the demands of both domestic and export markets. The project would involve an investment of $700 million.