Thailand’s Indorama signs Abu Dhabi deal

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TacaamolIndorama Ventures Plc, a Bangkok-based leading polyester and yarn manufacturer, has signed a joint venture deal with Abu Dhabi National Chemicals Co (Chemaweyaat) to develop an aromatics plant in western Abu Dhabi.

The plant is expected to have capacity to make 1.4 million tonnes of paraxylene and 500,000 tonnes of benzene in a year. Chemaweyaat will hold 51 per cent and Indorama 49 per cent in the joint venture called Abu Dhabi Chemicals Integration Co (Tacaamol).

“This venture with Chemaweyaat represents our maiden entry into the Gulf region,” said IVL chief executive Aloke Lohia.

Chemaweyaat chief executive Ahmed Saeed Al Mheiri said both parties have worked hard to reach this stage and look forward to a continued spirit of cooperation as the project takes shape.

Chemaweyaat was established by decree in November 2008 to develop Abu Dhabi’s domestic chemicals industry further, complementing other units such as Abu Dhabi Polymers Co (Borouge), Ruwais Fertiliser Industries (Fertil) and International Petroleum Investment Co (Ipic). It is jointly owned by Ipic, the Abu Dhabi Investment Council and Abu Dhabi National Oil Co.

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Reading Time: 1 minute

Indorama Ventures Plc, a Bangkok-based leading polyester and yarn manufacturer, has signed a joint venture deal with Abu Dhabi National Chemicals Co (Chemaweyaat) to develop an aromatics plant in western Abu Dhabi.

Reading Time: 1 minute

TacaamolIndorama Ventures Plc, a Bangkok-based leading polyester and yarn manufacturer, has signed a joint venture deal with Abu Dhabi National Chemicals Co (Chemaweyaat) to develop an aromatics plant in western Abu Dhabi.

The plant is expected to have capacity to make 1.4 million tonnes of paraxylene and 500,000 tonnes of benzene in a year. Chemaweyaat will hold 51 per cent and Indorama 49 per cent in the joint venture called Abu Dhabi Chemicals Integration Co (Tacaamol).

“This venture with Chemaweyaat represents our maiden entry into the Gulf region,” said IVL chief executive Aloke Lohia.

Chemaweyaat chief executive Ahmed Saeed Al Mheiri said both parties have worked hard to reach this stage and look forward to a continued spirit of cooperation as the project takes shape.

Chemaweyaat was established by decree in November 2008 to develop Abu Dhabi’s domestic chemicals industry further, complementing other units such as Abu Dhabi Polymers Co (Borouge), Ruwais Fertiliser Industries (Fertil) and International Petroleum Investment Co (Ipic). It is jointly owned by Ipic, the Abu Dhabi Investment Council and Abu Dhabi National Oil Co.

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