Indorama acquires petrochemical complex from BP

Indorama acquires petrochemical complex from BP

9:29 AM, 8th January 2016
Indorama acquires petrochemical complex from BP
Aloke Lohia, group CEO of Indorama Ventures. (File photo)

BANGKOK, THAILAND: Indorama Ventures Public Company Limited (IVL) said that it has agreed to acquire BP Chemical’s Decatur business in Alabama (with a total capacity of ~1.8 million tonne per year) consisting of integrated paraxylene and PTA manufacturing.

It is the world’s only commercial plant to manufacture NDC, a specialty chemical used in performance polymers and films for application such as smart-phone screens.

The transaction is expected to complete in the first half of 2016.

“2015 was a truly transformative year for IVL and the transactions signed up are a game changer for the industry. Our industry faces continually new challenges and IVL has taken these times as an opportunity to remain focused and surge ahead to deliver a distinct and compelling investment platform with scale advantages, technology ownership and innovative products which our customers can rely upon, creating the IVL differentiation,” said Aloke Lohia, group CEO of Indorama Ventures.

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