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On a Recent Visit Indorama Synthetic’s Chairman Provides Ringing Endorsement of Klaipeda FEZ as a destination for PET production
In Lithuania as part of the 7th convention of the honorary consuls of Lithuania, Chairman & Managing Director of Indorama Synthetics India and Honorary Consul of Lithuania for India, Om Prakash Lohia, visited his Klaipeda FEZ factory to witness first hand his Lithuanian operation’s continued growth and success.
Indorama Ventures, a Thailand based global leader in the plastics business, was one of the first operations to open a manufacturing plant in Klaipeda FEZ in 2006. Since then their Lithuanian facility has become one of their top operating plants, and this year they signed a development deal with Klaipeda FEZ that will secure their continued expansion on the site.
This was not Mr. Lohia’s first visit to Lithuania, or Klaipeda, but he was definitely impressed by the advances he witnessed. As he explained, “My impressions of Klaipeda are very good – this is the third time I’ve visited. I first came to Lithuania fourteen years ago when we were building our plant. Today I look at Klaipeda and see that the city is developing with real speed, and the infrastructure is strong. I think our investment here was a good decision. I was also impressed by Klaipeda LNG terminal – I am certain that Lithuania is going to benefit from this project. “
Klaipeda FEZ was one of three key sites in Klaipeda selected for a visit from the contingent of honorary consuls, who earlier in the week had the opportunity to meet with the Lithuanian President Dalia Grybauskaite to discuss closer economic co-operation.
Indeed, Mr. Lohia was not the only interested party when it came to the FEZ’s growing cluster of PET manufacturers. Stanley Tai, Honorary Consul in Malaysia, also a plastics company owner, was impressed by what he saw. As he explained, “I had the opportunity to become an honorary consul of Belarus but I chose Lithuania as it was a member of the EU. I never thought that Lithuania, a country with such a small population, would have such an advanced industries sector. I need more time, of course, but I was thinking I could begin manufacturing here in Klaipeda.”
With the total revenue of plastics companies in Klaipeda FEZ rising by 18 per cent to 810 m Eur, and the value of exports rising by 14 per cent to 586 m Eur, Klaipeda FEZ is most definitely becoming an increasingly attractive value proposition for global PET companies. With the expansion of Indorama, and the recent announcements of the expansion of the Retal group’s operations, Klaipeda FEZ is set to become an even more prominent player in the global PET sector.