Dhunseri Petrochem forms PET JV with Thai firm Indorama Ventures – Feedback

Dhunseri Petrochem Ltd, the petrochemicals division of Dhunseri Petrochem & Tea Limited, has entered into an agreement with Thailand’s Indorama Ventures Public Company Limited (IVL) to form a 50:50 joint venture to manufacture and sell polyethylene terephthalate (PET) resins for Indian domestic markets and for exports.

Dhunseri will purchase a 50% stake in the 216,000 tonne Micro Polypet Pvt Ltd (MicroPet), a company owned by Indorama Ventures in Haryana. IVL in turn will acquire a 50 percent stake in a carved out entity, called Haldia, of Dhunseri, with an effective capacity of 4,80,000 tonnes PET manufacturing located in the eastern state of West Bengal. The JV is subject to regulatory approvals and expected to complete in H2 2016.

http://www.business-standard.com/content/b2b-plastics-polymers/dhunseri-petrochem-forms-pet-jv-with-thai-firm-indorama-ventures-116022900868_1.html

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