Earlier, the company announced its debut international joint venture with Ras Al Khaimah Investment Authority, to set up a Rs405 crore Greenfield plant in UAE.
The plant will produce polyester polyethylene (PET) terepthalate resin.
JBF is investing almost Rs 350 crore in the overseas unit, which is focused on the US and Europe markets.
The company has a buyback option in three years.
Arya also added that the production is scheduled to begin by the fourth quarter of 2006.
marketing@alchempro.com
