Bhubaneswar: High Level Clearance Authority (HLCA) of the Govt of Odisha today held its 31st meeting under the chairpersonship of Chief Minister Naveen Patnaik. The committee approves 5 industrial projects from diverse sectors worth Rs 35,760 crores
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D K Agarwal, CEO of Combined PET, IOD and Fibers Business at Indorama Ventures: “India is a strategic high-growth market for us. 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.”
Underscoring the strategic importance it attaches to the Indian market, global petrochemical producer Indorama Ventures Public Company Limited (IVL) is investing heavily in one of its manufacturing facilities there. IVL subsidiary Indo Rama Synthetics (India) Limited will spend up to INR 6 billion (€67 million) to upgrade the equipment and to add new capacity at its manufacturing site in Nagpur, India.
Indorama invests US$ 82 million in India
$82 million upgrade will take IVL PET resin manufacturing in India to over a million tons annually.
26th May 2021
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).
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