Indorama Polymers plc will spend $105 million to build a major new PET resin plant in North America.
The location of the plant was not included in a recent Bangkok Post story confirming the move. In late 2006, Indorama - based in Jakarta, Indonesia - announced a feasibility study for a new plant, but did not disclose a location.
The new plant will have annual capacity of more than 650 million pounds of PET and is to be located adjacent to a plant that will supply purified terephthalic acid.
Indorama already operates a PET plant in Asheboro, N.C., under the Starpet Inc. name. That plant - which Indorama bought from Tietex International Ltd. in 2003 - added more than 200 million pounds of PET capacity earlier this year and now has total annual capacity of almost 500 million pounds.
Late last year, Indorama officials said that the firm needed to expand its North American capacity to more than 1 billion pounds per year. A late-2006 news release said a U.S. new plant would open in late 2008. The firm also opened a new PET plant in Lithuania in late 2006.
Indorama Polymers is part of Indorama Group, an Indonesian conglomerate owned by the Lohia family. The firm operates manufacturing sites for textiles and related industries in Indonesia, Sri Lanka, Thailand, Turkey and India. Indorama Group also produces about 1.5 billion pounds of polyester annually and has annual sales of more than $500 million.