Indorama Allocates US$ 75 million for Expansion in Indonesia

Excerpts from Bisnis Indonesia
PT Indorama Synthetics will invest US$ 75 million during 2007-2008 towards expansion and modernisation of its yarn manufacturing facility in Indonesia.

The capacity expansion project would start from this year and the commercial production is expected by year 2008.

"The investment of US$ 75 million has already started this year", said Mr V.S. Baldwa, Corporate Secretary immediately after Indorama's Annual General Meeting.

The Investments would be made from bank borrowings and internal accruals to increase Indorama's spun yarn manufacturing capacity by 40 per cent.