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Construction work for Dhunseri Petrochem & Tea Ltd's Egypt plant for manufacture of PET resin has been delayed by two months following turmoil in the country. Construction work on the PET resin plant project is now expected to begin in June.
The company plans to set up a PET resin plant with an annual capacity of 4,20,000 tonnes at a cost of $160 million (approx Rs 720 crore) in Port Said in Egypt. It has been allotted 35 acres for the purpose. The Egypt plant will cater to Europe, Africa, Israel and US.
Mr C.K. Dhanuka, Executive Chairman, Dhunseri Petrochem and Tea Ltd, said: “Because of local factors there has been a delay in inspection by government officials and obtaining of necessary clearances. Construction work is expected to start by June 2011 while production will begin by the second quarter of 2012 -13.”
He however ruled out any major increase in costs because of the delay in the project.
Haldia Project
Meanwhile, production at the company's Haldia plant has been resumed from today. The Haldia plant had been shut down following a fire at a raw material store. Production is expected to reach 600 tonnes / day within a week.
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