Indorama India will open a plant in Himachal Pradesh. This is Indorama’s third plant in Himachal Pradesh. It will augment the spandex capacity of Indorama to 75 metric tons a day and will be ready by the end of 2022. Indorama’s spandex brand Inviya, provides functional solutions to high end garments and accessories like elastics, tapes etc and hygiene products like diapers. Inviya is available in denier ranging from 10 to 1680 in different lusters to address consumer needs across various segments. Indorama is the only company in Indian subcontinent to produce elastomeric yarns meant for applications like elastics, narrow fabrics and diapers. Apart from meeting the demand from domestic markets, Inviya is exported to Bangladesh, Turkey and Latin America for various applications in textiles and clothing.

The company has undertaken several transformative initiatives that are targeted to lead to run rate cost savings by 2023. Key strategic priorities for the group are footprint expansion into a growing market in India; formation of a dedicated team to grow the PET recycling business; and a continued focus on working capital optimization coupled with an increased emphasis on leadership development. It continues to build durable competitive advantages through its diversified portfolio.