Indorama Ventures to acquire Artlant PTA in Portugal
Indorama Ventures Public Company Limited (IVL), a global chemical producer, will acquire the assets of Artlant PTA, S.A.’s (Artlant), including all equipment, surface rights and employment contracts. Artlant, a Purified Terephthalic Acid (PTA) plant in the Sines Industrial Complex in Portugal is a large PTA producer in Europe with a production capacity of 700,000 tonnes per annum.
IVL will also acquire the assets of adjacent utilities provider, Artelia Ambiente, S.A. (Artelia), which has a capacity of 40.390 MW of electricity, steam, demineralised water, wastewater treatment and hydrogen. This acquisition will benefit the company by securing energy supply to Artlant and sell excess power to the grid.
PTA is used as raw material for PET (Polyester) production. With the company’s plan to grow its core businesses in the future, this feedstock security will be a solid basis for portfolio expansion. IVL expects to reduce cost and increase operational synergies via internal supply of feedstock and replace imports in Europe.
