Mkpoikana Udoma 02 March 2016, Sweetcrude, Port Harcourt – Indorama Group plans to significantly increase the capacity at its Poly-Ethylene Terephthalate, PET, production facility in Nigeria reflecting confidence in the growth potential of the Nigerian economy.
Indorama operated Eleme petrochemicals plant.
The new capacity will come on stream by 2017, according to the company.
Demand for PET across a wide range of applications in the packaging sector has been growing strongly over last few years. PET is the raw material highly needed by the plastics, foods, beverages, pharmaceuticals, brewery, and allied industries.
By next year, Indorama’s annual PET production in Nigeria will be large enough to take care of the entire domestic demand over next many years.
Indorama said this investment in increasing capacity further reinforces its policy of providing security of assured supply at a time when sourcing of PET resin from alternate sources is becoming a growing challenge.
Indorama has a solid track-record of investing in capacity ahead of demand, creating an enviable secure supply position for its existing and new customers especially when market conditions are poised to create accelerated demand and growth for PET in Nigerian market.
The increased domestic production capability also supports the Federal government’s initiative in promoting domestic manufacturing to boost Economy and create employment opportunities, both direct and indirect, for the domestic work force.
Indorama PET (Nigeria) world-class plant which has capacity for 86,000 metric tons of PET resins per annum was commissioned in July 2012. It is the only PET plant in sub-Saharan Africa.