Bangkok, Thailand – 3 February, 2020 – Indorama Ventures Public Company Limited (IVL), a global chemical company, has commenced the commercial operations of its olefins gas cracker at Indorama Ventures Olefins (IVOL) plant in Westlake, Louisiana, the USA on 31st January 2020.
The site has an ethylene production capacity of 440 kilotons per annum (KTA) and is highly integrated with the US Gulf Coast ethylene pipeline infrastructure for efficient distribution. This cracker is strategically positioned in the US gulf coast and allows to leverage shale gas availability. The facility is strategically positioned for long-term captive ethylene supplies to Indorama Ventures Oxide and Glycols (IVOG) plant in Clear Lake, Texas and the recently acquired integrated EO and PO assets in Port Neches, Texas.
Mr. Tony Barre, Site Director of Indorama Ventures Olefins LLC, commented, “I am very proud of the achievements of our IVOL operating team, who have safely achieved commercial operations and plant has already achieved an operating rate of over 80%.”
Mr. Alastair Port, President of Indorama Integrated Oxides and Derivatives, commented, “I am very delighted with the startup of our Gas cracker and are thankful to my colleagues who worked relentlessly. This has been possible with tremendous support and partnership with local authorities and communities.”
Mr. Dilip Kumar Agarwal, CEO of PET and Integrated Oxides and Derivatives of Indorama Ventures, said, “This is a significant milestone for IVL and strategic step forward in expanding our North American portfolio and footprint. The new plant is very strategic to the continual growth of IVL’s Integrated Oxides and Derivatives segment, in-line with the company’s strategy. I personally want to thank my colleagues for their tenacious efforts and their safety mindset for the commercial startup of the cracker in Westlake, LA.
We look forward to working with the community of Southwest Louisiana to further enhance the economy, quality of life and ensure it receives the benefits of this investment.”
About Indorama Ventures
Indorama Ventures Public Company Limited, listed in Thailand (Bloomberg ticker IVL.TB), is one of the world’s leading petrochemicals producers, with a global manufacturing footprint across Africa, Asia Pacific, Europe and Americas. The company’s portfolio comprises Integrated PET, Olefins, Fibers, Packaging and Specialty Chemicals. Indorama Ventures products serve major FMCG and automotive sectors, i.e. beverages, hygiene, personal care, tire and safety segments. Indorama Ventures has approx. 24,000 employees worldwide and consolidated revenue of US$ 10.7 billion in 2018. The Company is listed in the Dow Jones Emerging Markets and World Sustainability Indices (DJSI).
Indorama Ventures is headquartered in Bangkok, Thailand with global operating sites in
|EMEA:||The Netherlands, Germany, Ireland, France, UK, Italy, Denmark, Lithuania, Poland, Czech Republic, Luxembourg, Spain, Turkey, Nigeria, Ghana, Portugal, Israel, Egypt, Russia, Slovakia, Austria, Bulgaria|
|Americas:||USA, Mexico, Canada, Brazil|
|Asia Pacific:||Thailand, Indonesia, China, India, the Philippines, Myanmar, Australia|
Tel: +662.661.6661 ext. 680
Tel: +662.661.6661 ext. 247
This document contains “forward-looking statements” about the financial condition and results of operations of Indorama Ventures Public Company Limited (the “Company”), which are based on management’s current beliefs, assumptions, expectations and projections about future economic performance and events, considering the information currently available to the management. Any statements preceded by, followed by or that include the words “targets”, “believes”, “expects”, “aims”, “intends”, “will”, “may”, “anticipates”, “would”, “plans”, “could”, “should, “predicts”, “projects”, “estimates”, “foresees” or similar expressions or the negative thereof, identify or signal the presence of forward-looking statements as well as predictions, projections and forecasts of the economy or economic trends of the markets, which are not necessarily indicative of the future or likely performance of the Company. Results given here are “Core”, which means excluding inventory gain/losses and one-time extraordinary items