Dhunseri Petrochem completes joint venture partnership with IVL

Dhunseri  Petrochem, a subsidiary company of Dhunseri  has completed the equal joint venture partnership with Thailand's Indorama Ventures Public Company (IVL), by acquiring 50% stake from IVL in Micro Polypet (MicroPet),which has a capacity of 2,16,000 tonnes having its PET plant in the North Indian State, Haryana.

Simultaneously, with IVL having acquired a 50% stake in Dhunseri Petglobal (DPGL), both Dhunseri and IVL have an equal stake in DPGL. By combining the two companies as equal partners the resulting total capacity of 7,00,000 tonnes per annum will make the new joint venture the second largest in India.

Dhunseri Petrochem cultivates, processes and markets tea, and manufactures petrochemicals. The Company produces polyethylene terephthalate (PET) resin