MCC PTA India planning to treble revenue

October 23rd, 2009 - 7:47 pm ICT by IANS  

Haldia, Oct 23 (IANS) MCC PTA India Corp (MCPI), the Indian subsidiary of Japan’s Mitsubishi Chemical Corp, is planning to increase revenue from its production unit here to Rs.5,000 crore from the present Rs.1,600 core by 2010-11, a top official said here Friday.
“We are planning to treble the revenue to Rs.5,000 crore ($1.2 billion), taking into account the current market price of PTA (purified terephthalic acid) at $900 per tonne,” Yoshi Mitsu Kobayashi, president of Mitsubishi Chemical Holdings Corp, told reporters.

He was speaking after inaugurating the second phase of the Haldia unit, which added a further 800,000 tonnes production capacity of PTA per annum, to the already existing 470,000 tonnes.

The Haldia facility is the company’s largest single-line production capacity unit globally, churning out 1.27 million tones of PTA per annum.

The capacity expansion has entailed an investment of $400 million, Kobayashi said.

The company’s largest PTA production unit is in Korea at 1.6 million tonnes, but that has a four-line production capacity.

“We are also exploring opportunity in other sectors like manufacturing solar photo-voltaic cell, genetic pharmaceuticals, information and electronic applications in India,” Kobayashi said.

The company will launch a propylene-based compound manufacturing plant at Neemrana in Rajasthan in November. The The 10,000-tonne plant will cater to the automobile industry, he said.

Asked whether the company was considering tie-ups with Indian entities to foray into other sectors, Kobayashi said: “We don’t have any concrete plan as of now.”

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