Indorama Ventures Public Company Limited (“IVL”), through its indirect subsidiary Indorama Netherlands BV (INBV), is in the process of acquiring the PTA assets of Artlant PTA S.A. in Portugal with production capacity of 700,000 tons per annum. The transaction is expected to be completed within the fourth quarter of 2017. The same was informed by IVL in a statement addressed to the Stock Exchange of Thailand.

In addition, INBV has also signed a definitive asset purchase agreement to acquire the adjacent utility assets of Artelia Ambiente, S.A. Portugal which has a capacity of 40 MW of electricity plus steam, demineralized water, wastewater treatment and hydrogen and supplies its utilities to the Artlant PTA plant.

PTA is a core strategic business of IVL and we are confident that over time the Portugal PTA plant will support the polyester value chain businesses in Portugal and in EMEA for the IVL group as well as for merchant markets, the statement said.