Indorama Ventures plans PX plant in Middle East

"We need to have an aromatics plant next to a refinery and a partner who will handle all aromatic products, except for Paraxylene. IVL would focus on only the products within the polyester value chain," a company spokesperson told fibre2fashion.

“The talks on the deal are in its early stage and we are unable to disclose the details now,” she informed.

Paraxylene is an aromatic hydrocarbon used for manufacturing purified terephthalic acid (PTA) for making polyester.

IVL is the second-largest PET producer in North America and the largest in Europe. Besides PET resin, the company also produces fibers and yarns from Polyester and Polyolefins in the United States, Germany, Denmark, Ireland, China, Thailand and Indonesia and last year the firm entered the oxides and glycols business in Texas.

Fibre2fashion News Desk - India