April 16, 2025 15:20
As part of its IVL 2.0 restructuring plan announced last year, Thai chemical giant Indorama Ventures has decided to divest its purified terephthalic acid (PTA) plant located in Sines, Portugal, operated by its indirect subsidiary Indorama Ventures Portugal PTA (IVPPTA).
With an output capacity of approximately 700,000 tonnes per year, the plant was acquired in 2017 from Artlant PTA, along with utility assets previously owned by Veolia. The operations were later rebranded as Indorama Ventures Portugal PTA and Indorama Ventures Portugal Utility.
The decision to divest the site, the company explained, follows a thorough assessment of market conditions and economic pressures, including high raw material and energy costs, inflationary impacts, and competition from low-cost PTA imports.
Last year, Indorama had already announced the permanent closure of its integrated PET and PTA operations in Rotterdam, the Netherlands, as well as the PTA plant in Montréal-Est, Canada.
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