MUMBAI, INDIA — Indian petrochemical giant Reliance Industries Ltd. is hiking its PET bottle-grade resin capacity by setting up two more facilities by the first quarter of 2014.
Currently, the company's two PET plants in Hazira manufacture 350,000 metric tons of PET bottle resin annually. Reliance plans to hike the capacity to 1 million metric tons with the opening of two facilities in Dahej.
Mumbai-based Reliance's strategy is to create capacity before demand. The plants will primarily cater the Indian market, although the company is likely to export some of the production.
The plants, which will each have the capacity to make about 325,000 metric tons annually, will open in the last quarter of 2013 and the first quarter of 2014.