Mitsubishi Chemical to Build 370-M.-Dlr Plant in India
December 26, 2005
Tokyo, Dec. 26 (Jiji Press)–Mitsubishi Chemical Corp. said Monday that it will invest 370 million dollars to build an additional plant in India to manufacture purified terephthalic acid.
The company, a subsidiary of Mitsubishi Chemical Holdings Corp. , will begin constructing the plant in January 2006 for completion in June 2008.
Demand for the product is growing as a main material for polyester fiber and polyethylene terephthalate, or PET, bottles.
Mitsubishi Chemical already produces purified terephthalic acid at its Indian unit.END