Thai manufacturer of PET resins, Indorama Ventures (IVL) has announced plans to invest $190m to construct a new manufacturing plant adjacent to its existing site near the Tennessee River at Decatur, Morgan County, US.
Construction of the new plant, which will produce 540,000 tons of resin annually, is expected to commence in 2013, and is slated for completion in the fourth quarter of 2015.
IVL PET and Feedstocks CEO Agarwal said the company has added a recycling plant to its first AlphaPet plant, which was completed in 2009 and was able to recycle used PET bottles to produce a portion of its resin.
"The technology we employ today to produce PET is very efficient and uses much less energy and water than a comparably-sized conventional PET facility. Due to this low use of energy and water, and its recyclability, our PET has a lot less impact on the environment than either glass or aluminum," Agarwal said.
IVL also produces fibers and yarns from polyester and polyolefins in the US.
