Indorama Ventures Public Company Limited (IVL) (Bangkok, Thailand), a global producer of polyethylene terephthalate (PET), related feedstocks and other materials seems to be doing incredibly well across North America. IVL has announced it has plans to acquire a 1.8 million tpy petrochemicals plant in Decatur, Alabama.
This follows on from a statement released in September, where Indorama announced it would acquire a dormant ethane cracker in Sulphur, Louisiana, and revive it through a US$175 million investment.
According to a new report from Transparency Market Research, the global petrochemicals market is anticipated to expand at a CAGR of 6.8% from 2014 to 2020.