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Indo-Rama firms up $300-M project in Thailand
Friday, 30 July 2004, 19:30 IST
BANGKOK: The Indo-Rama Group, one of the largest India-Thailand joint venture companies, is investing $300 million in a project in this country to manufacture purified terephthalic acid (PTA).
The project, with an installed capacity of 70,000 tonnes, is to be set up in the country's Rayong province.
The Lohias-owned group, which recently diversified its product range to include polyester resin, yarn, pre-form bottles and bottle caps, has planned the projects to enhance its competitive position in the global markets, the group's chief executive here, Anil Lohia, said.
"We export 70 percent of our products overseas and the new projects will help us consolidate our position, Lohia told IANS on the sidelines of a reception hosted for Indian Prime Minister Manmohan Singh.
Indo-Rama has operations in Indonesia, the US, Romania, Turkey and Sri Lanka besides Thailand.
"The technology will be provided by Du Pont and our Indonesia operations will manage the project," Lohia said.
The Group has diversified its products like PET Resin, Polyster Yarn, Preform bottle and plastic bottle caps. "We will be adding more plans to manufacture these products to further consolidate our position," Lohia said.
Indo-Rama started its Thai operations in 1991 with a turnover of barely $10 million and today boasts of revenues that top $500 million.
It is among the major Indian companies, such as the Aditya Birla group, Ranbaxy Laboratories, Ansals and Rayon Group that have a significant presence in Thailand.
Lohia represents India's business interests in Thailand and is advisor to the Federation of Indian Chambers of Commerce and Industry (FICCI).
He said he was looking forward to a free trade agreement between India and Thailand to give a further push to bilateral trade and investment between the two countries.
Source: IANS
Source: IANS