The firm, which exports more than half of its production to 45 countries, mainly in Europe, completed the fiber plant, the first of two projects prepared with the Project-Based Incentive System, previously approved by President Recep Tayyip Erdoğan and published in the Official Gazette.
Indorama Ventures products serve major FMCG and automotive sectors, i.e. beverages, hygiene, personal care, tire and safety segments. rPET resin is widely used for beverage and food packaging, also has fibre applications in Europe, a sector in which IVL holds a leadership supplier position. The demand for food-grade rPET in Western Europe is can grow at a CAGR of 7% from 2018-2021 and is currently overtaking supply.
Narain Aggarwal, chairman, The Synthetic & Rayon Textiles Export Promotion Council said that, synthetic yarn export has grown in 2017-18, by about five per cent. However, say observers, this is only due to a rise in global demand while China cut production. "The industry as such has not done anything substantial to see export grow.
In 2000, SASA strengthened its leading position in the sector by establishing a joint venture with DuPont. Following the acquisition of DuPont’s shares by Sabancı Holding in 2004, it became a wholly-owned subsidiary of Hacı Omer Sabancı Holding A.Ş. and was renamed ADVANSA. In 2005, the name of the group in Turkey was changed to ADVANSA SASA Polyester Sanayi A.Ş.
Reliance Industries Limited (RIL) completing its multi-billion-dollar expansion of largest operating refinery off-gas cracker (ROGC) world’s largest off-gas cracker facility at its Jamnagar complex. This has also doubled RIL’s ethylene production capacity, which is now close to 4 MMTPA at five of its manufacturing sites. RIL joins the distinguished league of top 5 petrochemical producers globally.
With this, Jamnagar in Gujarat has also become home to the world’s largest operating refinery off-gas cracker, RIL said in a statement.
