The Indian subsidiary of the Japan based petrochemical giant, Mitsubishi Chemical Corp, MCC PTA India Corporation (MCPI), is planning to treble its income from the current Rs 16 billion to Rs 50 billion by 2010-2011.
This was revealed by the President of Mitsubishi Chemicals, Mr Kobayashi, while bringing on-stream, the second phase of the 800,000 tons per annum of PTA capacity in addition to the 470,000 tons per year which is already under existence at Haldia, West Bengal.
The second phase of the 800,000 tons per annum PTA plant, entailed an investment of US $400 million and is the company's largest single-line production capacity unit globally, with an output of 1.27 million tons of PTA per year.
The company's largest PTA production unit is in Korea of 1.7 million tons per annum, but it has four production lines. In addition it has PTA plants of 600,000 tons in China and 640,000 tons in Indonesia, with a combined global PTA capacity of 4.21 million tons.
Fibre2fashion spoke exclusively to an official spokesperson of Mitsubishi Chemicals in Japan and asked him the reasons for the increase in imports of PTA in India to which he said, "The reason for high imports is the shortage created, due to the delay in starting our new PTA plant in India and we expect Asian PTA demand will continue to be at high levels".
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