MOSCOW (MRC) -- Indorama Ventures (IVL) announced that its indirect subsidiary Indorama Ventures Olefins in Westlake, LA, a manufacturer of Ethylene from Ethane with an annual capacity of 440,000 MT has achieved mechanical completion and is undergoing trial runs, as per Hydrocarbonprocessing.
IVOL has stabilized the production of on-spec Ethylene and its byproducts at 5 of its 7 furnaces and will ramp up gradually during the course of 2Q19.
This project has been the most ambitious project of its kind in IVL history and creates an exciting new platform of growth as well as affording stability and supply chain advantages to the EO/EG business by its pipeline integration.
At normalized production, IVL will secure ~75% Ethylene for internal consumption for EO/EG production and merchant the remaining output.
The company said Indorama Ventures Oxide & Glycols, a manufacturer of EO, PEO & Glycols with an annual capacity of 550,000 MT has lifted the force majeure on 2nd May 2019 after taking an unplanned shutdown in the last week of March 2019 due to compressor breakdown.
As MRC reported previously, in February 2019, IVL commenced production of purified terephthalic acid (PTA) and polyethylene terephthalate (PET) at plants it acquired from Artlant PTA in Portugal and EIPET in Egypt. IVL completed the acquisition of the 700,000-t/y PTA facility, located at the Sines industrial complex, in Late 2017. Value of the transaction, which included all equipment, surface rights and employment contracts, was not disclosed.
Indorama Ventures Public Company Limited, listed in Thailand, is one of the world's leading petrochemicals producers, a global manufacturing footprint with 59 sites in 20 countries across Africa, Asia, Europe and North America. The company's portfolio is comprises necessities and high value-added (HVA) categories of polymers, fibers, and packaging. Indorama Ventures has approx. 15,000 employees worldwide and consolidated revenue of USD 8.4 billion in 2017. The company is listed in the Dow Jones Sustainability Index (DJSI).