IVL Dhunseri Petrochem Industries Private Limited (“the Company”) was incorporated on 29th September, 2015 under the provisions of the Companies Act, 2013 by the name and style of “Dhunseri Petglobal Limited” and having its registered office at ‘Dhunseri House’, 4A, Woodburn Park, Kolkata 700020 in the State of West Bengal. With effect from 20th September 2016, the name of the Company changed to IVL Dhunseri Petrochem Industries Limited. With effect from 12th May 2017, the name of the Company changed to its present one i.e., IVL Dhunseri Petrochem Industries Private Limited and its Corporate Identity Number became U25203WB2015PTC207942.
The Company had entered into a Scheme of Arrangement with Dhunseri Petrochem Limited (DPL) and their respective Shareholders which was approved by the Hon’ble High Court at Calcutta. Pursuant to the said Scheme, the Polyethylene Terephthalate (PET) Resin business of DPL in India has been transferred to the Company w.e.f the appointed date i.e., 1st April, 2016 and operative from 11th August, 2016, being the effective date.
Recognising the potential existing in the Pet Resin business, both DPL & Indorama Ventures Public Company Limited (“IVL”) holding company of Indorama Ventures Global Services Limited (“IVGS”), joint venture partners, had agreed to join hands in developing the said business. For the purpose of this, the Company had entered into a Scheme of Amalgamation with Micro Polypet Private Limited (“MPPL”) along with its subsidiaries i.e. (i) Eternity Infrabuild Private Limited (“EIPL”) and (ii) Sanchit Polymers Private Limited (“SPPL”) which was approved by the Hon’ble National Company Law Tribunal at Kolkata (“NCLT”) w.e.f the appointed date i.e., 1st April, 2016 and operative from 18th December, 2017, being the effective date.
The Company manufactures the finest bottle grade PET resin, for packaging of drinking water, carbonated soft drinks, edible oil, pharmaceuticals and many more. The Company has two PET resin plants in Haldia (port town in West Bengal) with an effective capacity of 4,80,000 TPA and one PET resin plant in District Karnal in the State of Haryana with an effective capacity of 2,16,000 TPA. So that total capacity of both the units is around 7,00,000 TPA. The product of the Company are being marketed and sold with trademarks owned by Indorama Ventures Public Company Limited (“IVL”), holding company of IVGS “RAMAPET” and by DPL “ASPET” in around 55 countries across the Indian sub continents, North America, South America, the European Union, the Middle East, Eastern Europe and North Africa.
DPL is a part of Dhunseri Group and is presently carrying on the business of treasury operations in shares and securities of other bodies corporate and has interest in PET Resin business in Egypt and in developing and providing infrastructure facilities in the State of West Bengal, through its Subsidiaries. IVL and its subsidiaries/ joint ventures are one of the world’s leading petrochemicals producers having a global manufacturing footprint with 75 sites in 26 countries across Africa, Asia, Europe and North America.
Presently, Dhunseri Ventures Limited (“DVL”). and Indorama Ventures Global Services Limited (“IVGS”) hold equal stake in the Company.
Joint Venture Partners:-
i) Indorama Ventures Public Company Limited (IVL) – www.indoramaventures.com
ii) Dhunseri Ventures Limited (DVL) www.aspetindia.com