MCC PTA India to invest USD 370 mn in Haldia proj

Kolkata, Aug 1: Japanese major MCC PTA India Corp Pvt Ltd will invest US $ 370 million in its expansion project in Haldia by 2008.

Speaking on the sidelines of a seminar, organised by Bengal National Chamber of Commerce and Industry here today, Mitshubishi Chemicals Corporation (MCC) PTA India Director (Finance and Accounting) Nohisa Komaya said the company would triple its capacity from 470 ton per annum to 800-1000 ton per annum by 2008.

'' The total investment for this expansion project is US $ 370 million, taking the total capacity of the plant to 1270 ton per annum, '' Mr Komaya added.

The MCC PTA plant in Haldia started commercial production in April, 2000, and was utilising 100 per cent capacity.

Billed as one of the largest FDIs in the country, MCC PTA India Corp Pvt Ltd manufactures Purified Terephthalic Acid (PTA), used for making polyester fibre yarn (PFY), polyester staple fibre (PSF), polyester films, X-ray films and audio tapes.

UNI