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| INDORAMA THAILAND FINALISES INDIA PLANS |
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Business Standard
Published on February 1, 2008 |
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| Indorama Thailand has announced its plans to more than double its revenue to over 4.2 billion dollars over the next two years. The Company also announced its plans to develop in the high – growth BRIC countries with India being very high on the agenda. The Company expects the Indian operations of Indorama Thailand to be set in motion by year 2009 – 2010. The investment size in the greenfield plant is expected to be atleast 100 million dollars. These announcements came during the signing of MOU for the acquisition of TUNTEX (Thailand) PCL’s businesses of Polyester Fibres and Filaments, a Rayong based and Thailand Stock Exchange listed Company. The company said they expect to build on strong earnings by focusing on two additional areas - PTA and Polyester fibers - in addition to ongoing PET polymers growth. |
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