IVL's African PET plant commences operations
Indorama Ventures Plc (IVL)'s first investment in Africa has commenced commercial operations, boosting the group's PET production capacity by 75,000 tonnes a year.
In a filing to the Stock Exchange of Thailand, IVL said that the solid state polymerisation PET plant in Nigeria, owned by Indorama PET (Nigeria) Ltd, an indirect subsidiary, commenced operations on July 19.
"This is the first PET investment of IVL in Africa and thus establishes its foothold in the estimated 450,000 tonnes PET market for the continent of Africa, which currently has only one other PET producer," IVL said.
