(Port Harcourt, NIGERIA) Indorama Group, one of the world leader in poly-ethylene Terephthalate (PET) production, says it plans to significantly increase capacity at its PET production facility in Port Harcourt Nigeria, saying this reflects confidence in the growth potential of the Nigerian economy.
In a statement in Port Harcourt signed by the Head, Corporate Communications (HCC), Jossy Nkwocha, the new capacity would come on stream by 2017.
Indorama hopes to cover significant amount of demand capacity after the completion of the expansion project which is coming amidst Nigeria’s growth challenges.
“This investment in increasing capacity further reinforces Indorama’s policy of providing security of assured supply at a time when sourcing of PET resin from alternate sources is becoming a growing challenge,” the company said.
The company noted that the increased domestic production capability also supports the Federal government’s initiative in promoting domestic manufacturing to boost the economy and create direct and indirect employment opportunities for the domestic workforce.
Indorama PET (Nigeria) world-class plant which has capacity for 86,000 metric tons of PET resins per annum was commissioned in July 2012. It is the only PET plant in sub-Saharan Africa.
The Managing Director/CEO of Indorama-Nigeria Manish Mundra believes that this capacity expansion in PET production is a further demonstration of the group’s confidence in the Nigerian economy and commitment to help in supplying PET resins to Nigerian industries .
