8 August 2016
DETAILS
Indorama Ventures Public Company Limited (IVL) and
Compañía Española de Petróleos S.A.U. (“Cepsa”)
announced the expansion of their strategic partnership
with the signing of an exclusive supply agreement
for metaxylene,
a key feedstock for the production of
Isopthalic Acid (“IPA”),
a high value-added chemical additive used in
the manufacture of PET, coatings and other resins.
Following the supply agreement, Cepsa will
construct its second metaxylene unit
for exclusive supply to IVL.
The new Sorbex unit, a near replication
of the existing unit, will have a capacity
up to 70,000 metric tonnes per annum.
Together with the existing metaxylene unit,
Cepsa will be able to supply
the entire production to Indorama Ventures’
co-located site, which is integrated with
Cepsa’s refinery in San Roque, Cádiz, Spain.
The additional new supply is expected
to come on-stream in 2018.
Indorama Ventures acquired
the vertically-integrated business of IPA, PTA and PET
from Cepsa in Spain in April 2016
and expects to make further investments
at this location to improve the capacity,
reliability of supply and service of goods
to customers in a competitive environment,
maintainingthe site’s excellent track record
driven by its dedicated and passionate employees.
Mr. Aloke Lohia,
Group CEO of IVL
“This agreement will allow us to cater
to our customers’ growing IPA needs globally,
from a reliable production platform
with proven technology and
a competitive supply chain infrastructure.
The global IPA market is growing
at five percent per annum and it is
our responsibility as a leader
to support the growth effectively.”
WWW.CHEMWINFO.COM BY KHUN PHICHAI
