Bangkok, Thailand – 24 September 2015 – Indorama Ventures Public Company Limited (IVL), a world-leading producer of intermediate petrochemicals, announced today that its subsidiary, Indorama Ventures Olefins LLC, has signed a purchase and sale agreement (PSA) and acquired an ethylene cracker located in Lake Charles, Louisiana, USA. Through the acquisition, IVL is taking a 76% interest in the ethylene cracker, with the remaining 24% financial investment being made by Indorama Corporation. The Lake Charles cracker can process both ethane and propane feedstock to produce approximately 370,000 tonnes of ethylene and 30,000 tonnes of propylene per annum. Indorama Ventures is already a major producer of Purified Ethylene Oxide (PEO) and Mono Ethylene Glycol (MEG) in the USA, for which ethylene is the feedstock.

Mr. Aloke Lohia, Group CEO of Indorama Ventures, said, “We are very excited by this acquisition as it accomplishes IVL’s core strategy to integrate our Polyester value chain and provides a solid, advantaged cost position to our portfolio, and enhances our ability to deliver consistent, superior value to our shareholders. Earlier in the year, IVL acquired a 600,000 tonnes per annum PTA plant in North America whereby IVL now has onshore integration in the three key continents it operates in.

“This acquisition will make us well-placed to receive cost-advantaged ethane and propane feedstock. We are targeting a commercial startup before the end of 2017, which will make us the first Thai company to take advantage of the shale gas revolution in the United States and ahead of the greenfield crackers being constructed. The integration economics with olefins will provide IVL with a significant long term cost advantage across its North American footprint.”

Louisiana Governor, Bobby Jindal, said, “With our world-scale infrastructure and outstanding workforce talent, Louisiana is leading the industrial renaissance in the U.S., with record levels of new petrochemical, processing and energy projects underway in our state. Increasingly, we are witnessing the arrival of more international investors to our state because they recognize Louisiana offers the perfect blend of workforce, logistics and business climate advantages. Because we have made our state more attractive and competitive, Indorama Ventures and other investors are helping our state create record levels of employment that will benefit Louisiana families for generations to come.”

The cracker is a joint investment with Indorama Corporation (IRC), which has significant operational experience in olefin cracking.

About Indorama Corporation
Indorama Corporation is a leading Asian industrial company based in Singapore with manufacturing plants in over seven countries across Asia, Europe, and Africa. Indorama Corporation is the largest producer of olefins and polyolefins in West Africa and the second largest in Africa. It also produces other industrial products such as fertilizers, textile raw materials, and disposable gloves.