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The Thai polyester giant Indorama Ventures is purchasing Artlant PTA, which runs a purified terephthalic acid plant in Sines, Portugal. The facility has the capacity for 700,000 metric tons per year of the polyethylene terephthalate (PET) raw material, making it Europe’s second-largest PTA plant. It was commissioned in 2012 by the polyester maker La Seda de Barcelona, which went bankrupt about a year later. Indorama says the plant helps back-integrate its PET business.
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