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Indian firm Dhunseri forms joint venture with IVL to acquire Egypt PET plant

Indorama Ventures Public Co Ltd (IVL) and India’s Dhunseri Petrochem have joined hands to acquire and restart a 540,000 tonne/year polyethylene terephthalate (PET) facility in Egypt.

A 50:50 joint venture was formed between IVL indirect subsidiary, Indorama Netherlands, and Dhunseri for the purchase of the PET plant of Egyptian Polyester Company SAE (EIPET), IVL said in a statement.

Restart activities for manufacturing recyclable PET has commenced and key raw material PTA [purified terephthalic acid] will be shipped from IVL Portugal soon after restart of Portugal PTA production anticipated in early July 2018. IVL and Dhunseri have an existing joint venture in India since 2016.