May 12, 2010
The Stock Exchange of Thailand
Subject: IVL announces expansion of PET production at Rotterdam site.
Indorama Ventures Public Company Limited (IVL) is pleased to announce that the
Board of Directors Meeting No. 4/2010 dated May 12, 2010 has resolved to
approve the expansion of PET production at the site of its existing plant,
owned and operated by its subsidiary,Indorama Polymers Rotterdam B.V.
The approved expansion will add a new production line with an annual capacity
of PET resin of 190,000 tons thus bringing the total capacity at the site to
390,000 tons. The project cost for the expansion is expected to be
significantly low due to existence of available infrastructure, utilities and
tank farm. The financing of the project will be by way of long term loans and
internal cash. The expansion is expected to be completed and start
operations by Q1, 2012. The new plant will provide additional full-time
The proposed expansion is being taken up to increase market share in Europe,
to fully integrate with the PTA capacity of 350,000 tons and utilities at the
same location and benefit from economies of scale.
The transaction value will be less than 15% of the total asset value of IVL
consolidated as at March 31, 2010.
Please be informed accordingly.
(Mr. Souvik Roy Chowdhury)