Toray to produce resin for plastic bottles<\/p>\n
JAKARTA (JP): PT Indonesia Toray Synthetics announced
\nyesterday the establishment of a joint venture company which will
\nbuild Indonesia's first polyethylene terephtalic (PET) resin for
\nplastic bottles in Tangerang, West Java.<\/p>\n
The US$34 million plant, to be designed with an annual
\ncapacity of 30,000 tons, will meet the country's demand for PET
\nresin, which is estimated at 20,000 tons a year.<\/p>\n
The company estimated Indonesian demand for PET resin has been
\ngrowing by 15-20 percent a year as a result of the rapidly
\nexpanding beverage (notably soft drink and mineral water) and
\npharmaceutical industries.<\/p>\n
The joint venture company will be capitalized at about US$11
\nmillion, of which Toray Industries Inc. will own 32.5 percent,
\nMitsui Petrochemical 37.5 percent, Indonesia's Petindo Group 15
\npercent, Mitsui & Co. Ltd. five percent and Toray's Indonesian
\nsubsidiary, PT Indonesia Toray Synthetics 10 percent.<\/p>\n
\"The joint venture partners will enable the plant to supply
\nhigh-performance PET resin to industrial users,\" Toray Indonesia
\nsaid in a press release.<\/p>\n
The company said the plant, slated to start production in
\nearly 1996, besides fulfilling local demand will also export part
\nof its production.<\/p>\n
\"Our plant therefore will enable Indonesia both to save
\nforeign exchange, which has now to be spent on imports and to
\ngenerate additional export earnings,\" the release added.<\/p>\n
Indonesia at present depends entirely on PET imports mainly
\nfrom Taiwan, Japan and South Korea. (vin)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/toray-to-produce-resin-for-plastic-bottles-1447899208",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}