Thai manufacturer of polyester and PET Indorama Ventures (IVL) has commenced operations of its new 75,000 tonne per annum (tpa) PET Solid State Polymerization (SSP) facility in Port Harcourt, Nigeria.
The facility in West Africa uses Buhler SSP technology from Germany and produces bottle grade PET chips through SSP, the second stage of the PET production process.
IVL group CEO Aloke Lohia said the company’s business will also serve the economic growth of the country as consumer demand for basic non-discretionary items like food and beverages increases.
"Our investment is a reflection of our belief that Nigeria has a lot of potential for further growth. Moreover, Port Harcourt is an excellent location for our business, with good infrastructure and knowledgeable manpower," Lohia added.
According to IVL, the plant provides the company with the ability to serve its major customers with global service on four continents.
IVL reported consolidated revenue of $6.1bn in 2011 and its main products include PTA, PET, polyester fiber and ethylene oxide/glycols, which are distributed across the world.