Dhunseri Petrochem forms PET joint ventre with Indorama Ventures

摘要

Dhunseri Petrochem Ltd., the petrochemicals division of Dhunseri Petrochem & Tea Ltd., has inked a joint venture agreement with Indorama Ventures Ltd. (IVL), the Bangkok-headquartered polyester producer founded by billio-naire Indian-origin businessman Aloke Lohia. The 50:50 joint venture will manufacture and sell polyethylene terephthalate (PET) resins for Indian domestic markets and for exports. Dhunseri will purchase a 50% stake in the 2.16-lakh tpa Micro Polypet Pvt. Ltd. (MicroPet), a company owned by Indorama Ventures in Haryana. Meanwhile Dhunseri will hive off its 4.80-lakh tonnes PET capacity at Haldia in West Bengal and place in the joint venture. IVL will take 50% stake in this entity. Dhunseri Petrochem said the company's Egypt venture would be out of the proposed joint venture deal.