Cairo – Mubasher: Indorama Ventures Public Company Limited on Monday announced entering into an agreement with India-based Dhunseri Petrochem to buy Egyptian Indian Polyester (EIPET) in Ain Sokhna.
The company has not revealed any further details regarding the value of the transaction, according to Reuters.
Indorama Ventures, which operates in the Middle East, Asia, Europe, and North America, said that EIPET will boost its production capacity by 10%.
It is worth noting that the Indorama Venture serves the automotive, consumer goods, beverage, personal care, healthcare, tires, and safety sectors.
In May, Dhunseri Petrochem said it had purchased Egyptian Petrochemical Holding Company’s (ECHEM) 23% stake in their joint venture EIPET.
