Indo Rama Synthetics, a subsidiary of global petrochemical producer Indorama Ventures (IVL) is to invest up to US$82 million upgrading equipment and adding capacity at its manufacturing site in Nagpur, India.

The capital expenditure plan includes a new PET resin manufacturing facility, additional balancing equipment and lines to produce a large range of specialty yarns, further strengthening the company’s ability to serve clients across the country.

India is a strategic market for IVL, where the company operates all three of its global integrated business segments – Combined PET, Fibres and Integrated Oxides and Derivatives (IOD).

IVL has continually developed its PET resin business in India since 2016 through IVL Dhunseri Petrochem Industries, a joint venture with Dhunseri Ventures.

The new PET resin facility at Nagpur will add 700 tons of capacity per day and is expected to be operational by the second quarter of 2022. Together with plants at Haldia and Karnal, the Nagpur facility further strengthens IVL’s position as India’s largest resin producer, with a total capacity of over a million tons annually.

The plant at Nagpur, which IVL has managed since 2019, is also the company’s first fibre manufacturing site in India, offering a wide range of staple fibers and filament yarns. Under the investment plan, it will meet increasing demand from global brands for more high-quality and sustainable textile products.

“India is a strategic high-growth market for us,” said DK Agarwal, CEO of the Combined PET, Fibres and IOD business at Indorama Ventures. “Our capital expenditure plan reflects our long-term commitment to the industry’s development in India. It is important that we continually invest to ensure that we can serve our customers across India, wherever we are needed.”

www.indorama.net