Polyester maker Indo Rama Synthetics, has entered an agreement with Indorama Ventures, Thailand's largest polyester producer with $5.5 billion in consolidate revenues, to set up an integrated plant to manufacture purified terephthalic acid (PTA), polyethlylene terephthalate (PET) and polyester staple fibre (PSF).

Indo Rama Synthetics said in a filing with the Bombay Stock Exchange, that the investment would be the single largest by a Thai enterprise in India. The filing did not disclose the size of the investment.

BSE  |  NSE Price

Also Read   Related Stories News Now - Indo Rama Synthetics Q1 turnaround at Rs 51 cr - Grasim, Bombay Dyeing under CCI scanner - Indo Rama Q4 net up 20-fold - RIL to set up world-scale polyester projects in Gujarat - Uflex eyes Rs 4,500-cr revenue in FY12 - Uflex to invest Rs 381 cr into polyester films project

Also Read   Related Stories News Now - Markets end on a strong note - Nabard FY14 operating surplus soars 28% to Rs 1,635 cr - RBI eases banks' term deposit restrictions - NMDC Q4 net down 21.74% to Rs 1,642.28 cr - Balrampur Chini Q4 profit up by 15% More

Shares of Indo Rama Synthetics were trading 1.4% up at Rs 34.45 at around 1:30 pm on the Bombay Stock Exchange.


 

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets end on a strong note - Nabard FY14 operating surplus soars 28% to Rs 1,635 cr - RBI eases banks' term deposit restrictions - NMDC Q4 net down 21.74% to Rs 1,642.28 cr - Balrampur Chini Q4 profit up by 15%

Tags : Indo Rama Synthetics | Polyester | Joint venture | Indorama Ventures   Read Business news in  Advertisements -  Journey on, We are by Your Side. Click here to know more -  2 Lac Apartments, 1 Lac House / Plots. Click here -  Help a Child Achieve her. Click to know more -  Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol. -  The Best Seller is Also the No. 1 in Mileage. Click here -  Watch The Film Here. Click here to know more.. -  Leader in Passenger Car & Automobile Tyres. Click here -  1 billion in saving for Unilever without any tangles. -  A Brand New Server at a Price That Fits Your Budget. Click here -  Learn How One City is Running on FOOD SCRAPS. -  One Partnership Endless Possibilities. Click here to know more -  Helping doctors detect diseases earlier, saving costs & extending lives. -  36 Lakhs can get you a pool of Luxuries. Click here -  Which is the best plan for your daughter -  Check out the TRUE COLOURS of your Stocks, Now for FREE! -  One of the leading business schools in the world.Know More